The primary vehicle for distributing print coupons and coupons in general is:
A) magazines
B) newspapers
C) direct mail
D) free standing inserts (FSI)
D
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Merchandise subject to terms 3/10, n/30, FOB shipping point, is sold on account to a customer for $18,000. The seller paid transportation costs of $1,500 and added that amount to the invoice. The seller issued a return of merchandise memorandum for $4,000 prior to payment. What is the amount of the cash discount allowable to the buyer?
a. $1,160 b. $420 c. $1,305 d. $435
Kathy, your best friend and classmate, asks you to help her with a challenging ethical dilemma. Which of the following would be your first step in the decision-making process?
A. Identifying the ethical issue B. Determining the facts of the situation C. Considering the available alternatives D. Making the decision
Which of the following is not a generally recognized internal control activity?
A) Establishment of clear lines of authority to carry out specific tasks B) Preparation of bank reconciliation on a monthly basis C) Reducing the cost of hiring seasonal employees D) Limiting access to computerized accounting records
Under MACRS, an asset which originally cost $100,000 is being depreciated using a 10-year normal recovery period. The depreciation expense in year 11 is ________
A) $3,000 B) $4,000 C) $0 D) $6,000