Each of the following describes retailing except
A) a retailer is a sales intermediary.
B) many manufacturers sell directly to consumers and through wholesalers and retailers.
C) e-tailing makes it easier for a manufacturer to sell directly to customers by cutting out the intermediary.
D) companies that produce a large number of products, such as Procter & Gamble, do not need retailers for efficient distribution.
D
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Which difficulty of range as a measure of variability is overcome by interquartile range?
A. The sum of the range variances is zero B. The range is difficult to compute C. The range is influenced too much by extreme values D. The range is negative
If there are 20 manufacturers and 500 retailers, and 15 transactions are made per year at a cost of $200 per transaction, calculate the total number of transactions
A) 150,000 transactions per year B) 200,000 transactions per year C) 250,000 transactions per year D) 300,000 transactions per year E) 350,000 transactions per year
The risk of material misstatement refers to which of the following?
a. Inherent risk. b. Control risk and acceptable audit risk. c. The combination of inherent risk and control risk. d. Inherent risk and audit risk.
Policy and contract claims are shown on the balance as an:
a. accrued liability net of the recoverable portion. b. asset. c. asset net of the recoverable portion. d. accrued liability plus the recoverable portion.