The Value Meal Deal at a fast food restaurant in which you get a sandwich, fries, and a drink for one price is an example of price bundling
Indicate whether the statement is true or false
TRUE
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A $4,000, 6% note is dated August 5 and is due in 60 days. The maturity value of the note would be
a. $4,666.67; b. $4,240.00; c. $4,144.50; d. $4,040.00; e. $4,000.00
A retailer accepted Visa charge sales totaling $1,000 and deposited the charge slips in the bank. Assuming a credit card discount expense of 4 percent, what would be the increase to Cash and the increase to Sales, respectively?
A) $1,000 and $960 B) $960 and $1,000 C) $960 and $960 D) $1,000 and $1,000
Under the perpetual inventory system, in addition to making the entry to record a sale, a company would
A) record an increase in inventory corresponding to the amount of the sale. B) record a decrease in inventory and an increase in cost of goods sold for the cost of the merchandise sold. C) record an increase in inventory corresponding to the cost of the inventory. D) make no additional entry until the end of the period.
Which of the following would not be a remedy available to the seller on account of buyer's breach?
a. Stop delivery of the goods by the carrier. b. Require the financially sound buyer to return the goods. c. Recover the price. d. Cancel the contract.