What is the name of the expression that refers to the costs that a firm incurs in changing its prices?
A) fixed costs
B) variable costs
C) cost-base pricing
D) menu costs
Answer: D
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Father Christmas is a retail store that sells a unique Santa made from fur, wool, and tapestry. If 150 customers wish to buy a Santa from this store, and it sells 120 before running out of stock, what is its service level?
A. 88 percent B. 85 percent C. 15 percent D. 20 percent E. 80 percent
The sales manager of Sebastian Company failed to record a valid sale on account of merchandise that had been shipped to a customer prior to the end of the current year; however, the company uses a periodic method of accounting for inventory and the merchandise had been properly excluded from inventory at the end of the current year. As a result of this error, Sebastian Company's
a. total assets are overstated for the current year. b. total expenses are understated for the current year. c. net income is overstated for the current year. d. total assets are understated at the end of the current year. e. none of the above.
Under the UCC, a holder in due course is a holder who has given value for the instrument. Which of the following holders have given value for the instrument?
a. Beth promises to paint the neighbor's house in exchange for a promissory note as an advance payment for the job. b. Steve gives a note and mortgage on his house to his attorney as a retainer to handle his pending divorce. c. Todd, a newspaper carrier, accepts a properly indorsed two-party check for the past two months of deliveries. d. All of the above are correct.
By establishing high and unrealistic financial goals, you will probably
A) improve the likelihood of achieving at least some success. B) become discouraged and lose interest in planning. C) increase the viability of your plan. D) impress your spouse or significant other.