What cost concept used in applying the cost-plus approach to product pricing covers selling expenses, administrative expenses, and desired profit in the "markup"?
A) Total cost concept
B) Product cost concept
C) Variable cost concept
D) Sunk cost concept
B
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Which of the following is an analytical symptom of a kickback?
a. Decreasing purchases from other vendors b. Charging normal price for goods supplied c. Providing better quality goods d. Smaller purchase quantities and more frequent orders
Answer the following statements true (T) or false (F)
1. In a vertical analysis of the balance sheet, each line item is shown as a percentage of stockholders' equity. 2. Vertical analysis involves comparing an amount for a line item in the financial statements with a corresponding amount for the line item of the previous year. 3. In a vertical analysis of the income statement, each line item is shown as a percentage of net income. 4. Martin Company's cost of goods sold is 40% of net sales revenue. This means that for every $1 of net sales revenue, Martin has $0.60 of gross profit. 5. In 2018, Spirit Company's net income was 10% of net sales revenue. In 2019, the net income was 5% of net sales revenue. There is no need for investors to be alarmed because a drop from 10% to 5% is not significant.
Which inventory management system results in longer-term retailer-vendor relationships and frequent reordering?
a. computer-based UPC scanning b. automatic recording c. quick response inventory planning d. economic order quantity
Leadership in the workplace is mostly concerned with
A) controlling and giving orders. B) influencing and persuading others. C) taking care of business transactions. D) disciplining group members.