In his union position, Tom works with union members to deal with management and handle problems with their current labor agreement. Tom is most likely a ______.
A. business agent
B. shop steward
C. vice president
D. senior union rep
B. shop steward
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Which of the following accounts is credited by the seller when tax is collected on retail sales?
A) Accounts Payable B) Payroll Tax C) Sales Tax Payable D) Unearned Revenue
McDougall Company charges cost plus 25%. If the price of an item is $80, what is the item's cost?
A) $80 B) $100 C) $62.50 D) $64 E) $50
Which type of limited-service wholesaler does not physically handle products but simply takes title to them and negotiates sales?
a. drop shipper b. truck wholesaler c. rack jobber d. mail-order wholesaler e. cash-and-carry wholesaler
Four of the following statements are truly disadvantages of the regular payback method, but one is not a disadvantage of this method. Which one is NOT a disadvantage of the payback method?
A. Lacks an objective, market-determined benchmark for making decisions. B. Ignores cash flows beyond the payback period. C. Does not directly account for the time value of money. D. Does not provide any indication regarding a project's liquidity or risk. E. Does not take account of differences in size among projects.