Assuming that net cost of purchases was $39,000 during the year and that ending merchandise inventory was $1,000 less than the beginning merchandise inventory of $12,500, how much was cost of goods sold?
A) $50,500
B) $52,500
C) $40,000
D) $38,000
C
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The choice between demonstration, slice-of-life, straight sell, and other advertising forms is a matter of the:
A) creative strategy. B) advertising appeal. C) selling proposition. D) creative execution. E) big idea.
The inventory turnover amount is needed to calculate the
A) days' sales uncollected. B) days' inventory on hand. C) receivables turnover. D) interest coverage ratio.
Which of the following is not included in the decision-making process?
A. Solution test B. Solution benchmarking C. Solution generation D. Data collection
The basic difference between whole life insurance and universal life insurance is that:
A) The universal life investment portion pays interest at a variable rate and whole life does not. B) Universal life is a single premium payment plan and whole life is not. C) Universal life includes health insurance and whole life does not. D) There is no difference because they are two terms for the same type of policy. E) Universal life is usually purchased by corporations on its employees and whole life is usually purchased by individuals for family members.