Which of the following is the correct formula to calculate average merchandise inventory?
A) Average merchandise inventory = (Beginning merchandise inventory - Ending merchandise inventory) / 2
B) Average merchandise inventory = (Beginning merchandise inventory × Ending merchandise inventory) / 2
C) Average merchandise inventory = (Beginning merchandise inventory / Ending merchandise inventory) / 2
D) Average merchandise inventory = (Beginning merchandise inventory + Ending merchandise inventory) / 2
D) Average merchandise inventory = (Beginning merchandise inventory + Ending merchandise inventory) / 2
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In a fully-disclosed agency, the contract is between ________
A) a principal and an agent B) a principal and a third party C) an agent and a third party D) a principal, an agent, and a third party
Which of the following statements is NOT accurate in regard to presentation software for the design of graphics?
a. Effective users of current presentation software packages still need knowledge of graphic design. b. The latest presentation software packages try to guide users away from the worst errors of taste and judgment. c. Developers of presentation software continue to reflect limited awareness of the rules for graphic aid creation in their products' default settings. d. An effective communicator can confidently rely on the default settings in presentation software to design visuals.
Which of the following accounts could not be classified as a current liability?
A. Accounts payable. B. Notes payable (due in 11 months). C. Unearned revenues. D. Notes payable (due in 5 years). E. Current portion of long-term note payable.
The law presumes that a person over the age of ________ years is legally competent and may enter into a binding contract
a. 21 b. 18 c. 14 d. 25