Administered and contractual channel systems are vertical marketing systems that depend on agreements between channel members to cooperate.
Answer the following statement true (T) or false (F)
True
In administered channel systems, the channel members informally agree to cooperate with each other. In contractual channel systems, the channel members agree by contract to cooperate with each other.
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A company owes its employees $5,000 for the year ended December 31. It will pay employees on January 6 for the previous two weeks' salaries. The year-end adjusting entry on December 31 will include a debit to Salaries Expense and a credit to Cash.
Answer the following statement true (T) or false (F)
[The following information applies to the questions displayed below.]Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.)1) Acquired $950 cash from the issue of common stock. 2) Borrowed $420 from a bank. 3) Earned $650 of revenues. 4) Paid expenses of $250. 5) Paid a $50 dividend. During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.)1) Issued an additional $325 of common stock. 2) Repaid $220 of its debt to the bank. 3) Earned revenues of $750. 4) Incurred expenses of $360. 5) Paid dividends of $100. What is the after-closing amount of retained earnings that will be reported on Packard's balance sheet at the end of Year
2? (Assume that closing entries have been passed). A. $640 B. $740 C. $800 D. $290
____________ represent a special type of order taking that entitles customers to a specific unit of service
a. Suggestions b. Reservations c. Trackers d. Repossessions e. Contracts
Pull & Co reported net income for the current year. Which of the following business transactions would cause cash from operating activities to be higher than the amount of net income?
A) Cash dividends were paid to stockholders during the year. B) Depreciation expense was recorded for the year. C) A bank loan was repaid during the year. D) Equipment was purchased for cash during the year.