In a sole proprietorship, the owner is personally responsible without limitation for the liabilities incurred
Indicate whether this statement is true or false.
Answer: TRUE
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In a perpetual inventory system, when cash sales are recorded, ________.
A) merchandise inventory decreases and cost of goods sold decreases B) sales revenue increases and cash decreases C) sales revenue increases and cost of goods sold decreases D) merchandise inventory decreases and cost of goods sold increases
What is most likely the first major marketing decision that a retailer must take?
A) positioning B) targeting C) segmentation D) differentiation E) promoting
Which of the following is an example of a deferral?
A) Wages recorded but not yet paid. B) The purchase of a company vehicle. C) Legal fees earned but not yet collected. D) The accumulation of interest in a bank account.
A necessary element of internal control is:
A) database. B) systems design. C) systems analysis. D) information and communication.