The entry to close Cost of Goods Sold includes
a. debiting Income summary and crediting Cost of Goods Sold.
b. debiting Cost of Goods Sold and crediting Income Summary.
c. debiting Retained Earnings and crediting Cost of Goods Sold.
d. debiting Cost of Goods Sold and crediting Retained Earnings.
a
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The ________ provides that the Sherman Act shall not apply to nonimport trade unless the conduct has a direct, substantial, and reasonably foreseeable effect on trade or commerce within the United States, on the U.S. import trade, or on the activities of U.S. exporters.
A. Foreign Trade Antitrust Improvement Act B. Clayton Act C. Robinson-Patman Act D. Noerr Doctrine
Innovations is a producer of electronic circuits that power a variety of technological devices produced by other companies. Innovations sells its products to ________ markets
A) business B) government C) consumer D) internal E) financial
Francesco's wife earns $14,250 per year. If Francesco dies, his family would require $88,200 to cover their living expenses. Some of the yearly expenses would be offset by $12,400 from stock dividends, but this is still not enough. How much insurance should Francesco have to cover the shortfall, given a 10.4% prevailing interest rate? (Round your answer to the nearest $1,000)
A. $328,000 B. $418,000 C. $592,000 D. $114,000
When determining storage locations in a warehouse with a single dock, the items that should be placed closest to the dock are those that have the highest:
A) cost per unit. B) number of trips / blocks of storage area needed. C) number of trips. D) annual volume × unit cost. E) number of trips × blocks of storage area needed.