Organizations are often instrumental in helping consumers to identify their own needs. Marketers refer to this need recognition as
A) consumer potential.
B) customer demographics.
C) customer psychographics.
D) consumer satisfaction.
E) consumer activism.
A
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On November 1, 2018, A U.S. company sold merchandise to a foreign company for 375,000 krone. The payment in krone is due on January 31, 2019. The spot rate was as follows: $0.20 per krone on November 1, 2018; $0.21 per krone on December 31, 2018; and $0.19 per krone on January 31, 2019 when the payment was received. Which of the following incorrectly describes the accounting for this foreign currency transaction?
A. The foreign currency transaction gain included on the income statement for the year ending December 31, 2018 was $3,750. B. The receivable was recorded at $75,000 on November 1, 2018. C. The foreign currency transaction loss included on the income statement for the year ending December 31, 2019 was $3,750. D. The receivable was recorded at $78,750 on the December 31, 2018 balance sheet.
Billit Corporation Billit Corporation is a merchandising company. Selected account balances are listed below. Sales $500,000 Purchases 225,000 Beginning inventory 16,000 Ending inventory 30,000 Operating expenses 148,000 Income tax expense 10,000 Beginning retained earnings 53,000 Dividends 15,000 Calculate the cost of goods sold for Billit Corporation
A) $221,000 B) $239,000 C) $241,000 D) $211,000
Which of the following is an intangible asset?
A) Oil B) Goodwill C) Retained earnings D) Land
Under the resource-based view of a firm, when can a firm's resources be a source of sustained competitive advantage?