An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product?
A. Business
B. Process materials
C. Raw material
D. Convenience
E. Consumer
Answer: A
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If a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag, a bailment has been formed.
Answer the following statement true (T) or false (F)
Describe what OD is and what it can be used for.
What will be an ideal response?
A truck is purchased for $70,000. It has a five-year life and a $10,000 residual value. Under the double-declining-balance method, what is the accumulated depreciation after two years?
A) $38,400 B) $42,400 C) $44,800 D) $51,200
Which statement concerning global direct marketing is not correct?
a. There is a decreasing acceptance of nonstore retailing outside the United States. b. Outside the United States, annual direct sales are in the hundreds of billions of dollars. c. Eddie Bauer and Lands' End are among the firms with a significant international presence. d. There are direct marketing trade associations in such diverse countries as Australia, Brazil, China, and Russia.