With respect to retailing, assortment is often referred to as the
A. irregulars.
B. closeouts.
C. power perimeter.
D. variety of merchandise.
E. depth of merchandise.
Answer: E
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The standards of competence, independence, and due professional care are covered by which section of the generally accepted auditing standards?
a. General standards. b. Standards of fieldwork. c. Reporting standards. d. None of the above.
The quick ratio equals _____
a. (total assets)/(annual net sales) b. (total assets)/(total liabilities) c. (current assets)/(total current liabilities) d. (cash + accounts receivable)/(total current liabilities)
Valley National Bank issued a note promising to repay an investor on October 1, 2011, three years from the date of issue, plus interest. The note
a. is a certificate of deposit, and it will pay a lower rate of interest than a regular savings account at Valley. b. is a certificate of deposit, and it will pay a higher rate of interest than a regular savings account at Valley. c. is a certificate of deposit, and whether the bank pays a higher or lower rate of interest than it pays on its regular savings accounts depends upon particular bank policy. d. constitutes a trade acceptance.
Managers must apply different standards to themselves than they apply to their employees.
Answer the following statement true (T) or false (F)