A ________ selection device indicates that the device measures the same thing consistently.
A. subjective
B. potent
C. reliable
D. valid
Answer: C
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Marketers now use the Internet and social media to offer contests and sweepstakes
Indicate whether the statement is true or false
The following are possible benefits of cause-related marketing, except:
A) additional customers B) counter competitive actions C) reduced negative public opinion D) consumer goodwill for the future
Which of the following best describes the general character of the three principles that are listed in the Performance section of the Principles Underlying an Audit Conducted in Accordance with GAAS?
A. The purpose and value of a financial statement audit and lays out the responsibilities of management for an effective audit to be possible. B. Auditors' responsibilities in performing an effective audit. C. Auditors provide a written report that expresses their opinion about the financial statements. D. The fundamental responsibilities and characteristics of an auditor.
On July 1, Ferguson Company sold merchandise in the amount of $5,800 to Tracey Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ferguson uses the perpetual inventory system and the gross method. On July 5, Tracey returns some of the merchandise. The selling price of the merchandise is $500 and the cost of the merchandise returned is $350. The entry or entries that Ferguson must make on July 5 is (are):
A.
| Sales returns and allowances | 500 | |
| Accounts receivable | 500 | |
| Merchandise inventory | 350 | |
| Cost of goods sold | 350 |
B.
| Accounts receivable | 500 | |
| Sales returns and allowances | 500 | |
| Cost of goods sold | 350 | |
| Merchandise inventory | 350 |
C.
| Sales returns and allowances | 350 | |
| Accounts receivable | 350 |
D.
| Accounts receivable | 500 | |
| Sales returns and allowances | 500 |
E.
| Sales returns and allowances | 500 | |
| Accounts receivable | 500 |