BDP International specializes in planning, implementing, and controlling the efficient and effective flow and storage of products and information from the point of origin to consumption to meet their clients' needs and wants. It also specializes in delivering transportation services for their clients. Due to BDP International's efficiency in these areas, many firms outsource their core physical distribution activities to BDP. BDP is most likely to be a(n)
A. manufacturers' agent
B. industrial distributor
C. megacarrier
D. third-party logistics firm
E. freight forwarder
Answer: D
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Under current GAAP, volatility in asset returns translates directly into net income volatility because the actual return on plan assets reduces pension expense.
Answer the following statement true (T) or false (F)
The beginning work in process inventory is 60 percent complete, and the ending work in process inventory is 50 percent complete. The dollar amount of the production cost included in the ending work in process inventory (using the average cost method) is determined by multiplying the average unit costs by what percentage of the total units in the ending work in process inventory?
a. 100 percent b. 60 percent c. 55 percent d. 50 percent
Mack Jacoby sells building supplies. His annual sales equal $450,000. His total fixed costs annually equal $75,000. The cost of goods sold annually is $335,000. Calculate his gross profit percentage.
A. 34.3% B. 20.3% C. 11.9% D. 25.6% E. Cannot be determined from information given
The Income Taxes Payable account had a $967 balance at the end of June and a $1,300 balance at the end of July. Income tax expense for July was $1,000 . How much cash was paid for income taxes during July?
a. $1,267 b. $1,333 c. $667 d. $1,000