The following data relate to Rocket Company for the year ended December 31, 2012 . Rocket Company uses the cash basis. Sales on credit $180,000 Cost of inventory sold on credit 130,000 Collections from customers 170,000 Purchase of inventory on credit 140,000 Payment for purchases 150,000 Selling expenses (accrual basis) 20,000 Payment for selling expenses 25,000 Which of the following amounts
represents income for Rocket Company for the year ended December 31, 2012?
a. $30,000
b. $5,000 loss
c. $40,000
d. $45,000
e. $50,000
B
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Marketing managers should insist that any IT systems used be robust from a security standpoint. Which of the following is a likely reason for this requirement?
A. Organizations with highly secure IT systems offer better products and services than others. B. Marketing managers are storing more personal customer data in CRM systems. C. Maintaining robust IT systems usually involves high maintenance costs. D. Customers are willing to pay more for products when organizations have secure IT systems. E. Cybercrime has been on the decline over the last few years.
If you expect resistance or need to educate the reader, use the direct approach for your persuasive message
Indicate whether the statement is true or false
In the absence of express constitutional, statutory, or other provisions, the corporation has no implied powers
Indicate whether the statement is true or false