Stanley's Salon needs to purchase hairspray for it's chain of store locations to be sold at its merchandise counter. UltraHold retails for $15 per bottle. ?If the target markup rate is 30%, the most Stanley can pay per bottle is $9.00
Indicate whether the statement is true or false
True
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Which of the following will occur when inventory costs are decreasing?
a. LIFO will result in lower net income and lower ending inventory than will FIFO. b. FIFO will result in lower net income and lower ending inventory than will LIFO. c. LIFO will result in a lower net income, but a higher ending inventory, than will FIFO. d. FIFO will result in a lower net income, but a higher ending inventory, than will LIFO.
Which method aids a salesperson to turn an objection into a reason to buy?
A. Compensation B. Forestall C. Deny D. Boomerang E. Postpone
Answer the following statements true (T) or false (F)
1. Good managers know how to write or say everything that is important about a subject because of their superior experience. 2. Abstracting is the process of looking at a big picture and omitting details. 3. Effective communication is the key to planning, leading, organizing, and controlling the resources of the organization. 4. Of the five levels of managerial communication, the most important is the intercultural level. 5. Formal business meetings are the most typical example of the interpersonal communication level.
Inventory at the end of the current year is overstated by $20,000. What effect will this error have on the following year's net income?
a. Net income will be overstated by $20,000 b. Net income will be understated by $20,000 c. Net income will be correctly stated d. Net income will be understated $40,000