A new corporation may generally select one of the following accounting methods with the exception of
A. retail method.
B. hybrid method.
C. accrual method.
D. cash method.
Answer: A
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Which of the following segments labeled by D'Arcy Masius Benton & Bowles (DMBB) is concentrated in high-crime, urban inner-city neighborhoods and tends to be either resentful or resigned?
A) Affluent Materialists B) Successful Idealists C) Disaffected Survivors D) Comfortable Belongers
Why is direct mail popular among marketers?
What will be an ideal response?
Phoenix is planning to increase the sales price to $750. What impact will the increase in sales price have on the contribution margin ratio?
Phoenix was a professional classical guitar player until a motorcycle accident left him disabled. After
long months of therapy, he hired an experienced luthier and started a small shop to make and sell
Spanish guitars. The guitars sell for $700, and the fixed monthly operating costs are as follows:
Phoenix's accountant told him about contribution margin ratios, and Phoenix understood clearly that for
every dollar of sales, $0.60 went to cover his fixed costs, and anything above that point was profit.
A) It will stay the same.
B) It will increase to 53.33%.
C) It will increase to approximately 62.67%.
D) It will decrease to approximately 49.33%.
A company had the following purchases during its first year of operations: PurchasesJanuary:10 units at $120February:20 units at $130May:15 units at $140September:12 units at $150November:10 units at $160On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory?
A. $3,640. B. $3,500. C. $3,800. D. $3,280. E. $3,960.