Indicate whether each of the following statements is true or false.________ a) A multistep income statement separates product from period costs.________ b) A single-step income statement shows the computation of gross margin.________ c) Interest is normally shown as a separate item on the multistep income statement.________ d) The treatment of interest on the multistep income statement is consistent with the treatment of interest on the statement of cash flows.________ e) Gains and losses are included in operating income on a multistep income statement.
What will be an ideal response?
a) T b) F c) T d) F e) F
a) This is true. On a multistep income statement, cost of goods sold (product cost) is shown separately from operating expenses (period cost).
b) This is false. A single-step income statement does not show gross margin.
c) This is true. Interest is normally shown below operating income on a multistep income statement.
d) This is false. Interest is separate from operating expenses on the multistep income statement, yet is a cash flow for operating activities on the statement of cash flows.
e) This is false. Gains and losses are shown below operating income on a multistep income statement.
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JGB manufactures the K-Nine brand of dog food that is carried in supermarkets across the country. The company has always used wholesalers instead of selling directly to the retailers
However, recently, the sales team at JGB has noticed that wholesalers don't aggressively promote JGB's product line. They often don't carry enough inventory and therefore don't fill customers' orders fast enough. However, the marketing team insists that the wholesaling route is the best. What reasons can the marketing team offer to justify this?
Which of the following is an example of a retailer using mobile marketing to enrich the customer's shopping experience at the same time that they stimulate buying?
A) Lacey's department store uses a virtual tour app of Paris to promote a week-long celebration revolving around French-themed clothing, jewelry, and fragrances in their stores. B) Sharie's boutique issues mobile coupons to existing customers. C) Java Lava sends a special e-mail to customers that displays fireworks when it's opened to celebrate the store's 1-year anniversary. D) Books Abound uses an app to introduce customers to newly released books that are tailored to their reading preferences. E) The Music Store launches an app that plays 10 seconds of a new song every time users access it.
Product costs are deducted from revenue
a. as expenditures are made. b. when production is completed. c. as goods are sold. d. to minimize taxable income.
When you need to find a more precise word to express your meaning, the best place to check would be a ________
A) pocket dictionary B) reference manual C) thesaurus D) dictionary of antonyms