The idea that people like to make decisions similar to ones they had made in the past supports the principle of _____
A) social proof
B) liking
C) scarcity
D) consistency
E) reciprocity
Answer: D
Explanation: D) People like to act consistently and to make decisions similar to the ones they made in the past. Persuasive appeals often remind the audience of past decisions.
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Avon Products uses ________ to enter developing markets
A) franchising and licensing B) joint venture and licensing C) acquisition and franchising D) licensing and franchising E) acquisition and joint ventures
The calendar year-end adjusted trial balance for Blessinger Co. follows:BLESSINGER CO.Adjusted Trial BalanceDecember 31Cash$ 112,000?Accounts receivable27,000?Prepaid rent15,000?Prepaid Insurance9,000?Office supplies3,300?Office equipment38,000?Accumulated depreciation-Equipment?$3,200Building288,000?Accumulated depreciation-Building?42,000Land700,000?Accounts payable?25,800Salaries payable?14,500Interest payable?2,500Long-term note payable?72,000Common stock?200,000Retained earnings?710,000Dividends200,500?Service fees earned?430,800Salaries expense90,000?Insurance expense5,200?Rent expense5,000?Depreciation expense-Equipment800?Depreciation expense-Building7,000?Totals$1,500,800$1,500,800Required:(a) Determine the amounts of current assets
and current liabilities. (Note: A $9,000 installment on the long-term note payable is due within one year.)(b) Calculate the current ratio. Comment on the ability of Blessinger Co. to meets its short-term debts. What will be an ideal response?
Maxie's Game World sold games to a customer on credit for $3300, terms 2/10, n/30 and the cost of the games was $2400. When recording the collection from the customer made within the discount period, in its cash receipts journal, Maxie's would enter:
A. $3234 in the Cash Dr. column, $66 in the Sales Discount Dr. column and $3300 in the Accounts Receivable Cr. column. B. $3300 in the Accounts Receivable Dr./Sales Cr. column and $3300 in the Cash Cr. column. C. $3234 in the Cash Dr. column and $3234 in the Accounts Receivable Cr. column. D. $3300 in the Cash Dr. column. $2400 in the Sales Cr. column, and $2400 in the Cost of Goods Sold Dr./Inventory Cr. column. E. $3300 in the Cash Dr. column and $3300 in the Accounts Receivable Cr. column.
What is the present value of a $1,550 payment made in seven years when the discount rate is 9 percent?
(Do not round intermediate calculations and round your final answer to 2 decimal places.)