When manufacturers such as Avon sell directly to consumers, they perform both production and retailing activities.
Answer the following statement true (T) or false (F)
True
Avon acts as a retailer by selling directly to consumers, and as production when it transports the merchandise.
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One reason follow-up is so important is that research shows that the cost and effort to obtain repeat sales from a satisfied customer is roughly ________ of that necessary to gain a sale from a new customer.
A. 25% B. 50% C. 200% (or double) D. 300% (or triple) E. 100% (or the same as)
The form of economic cooperation that calls for countries to eliminate all internal barriers to trade among themselves even while maintaining independent trade policies vis-à-vis third countries is known as a(n):
A) Economic union. B) Customs union. C) Free trade area. D) Common market. E) None of the above
Doritos brand's "Crash the Super Bowl" contest resulted in a healthy uptick in Twitter, Facebook, and other social media activity
Indicate whether the statement is true or false
A company that uses the net method of recording purchases and a perpetual inventory system purchased $2500 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $550 worth of merchandise. On July 28, it paid the full amount due. The correct journal entry to record the payment on July 28 is:
A. Debit Accounts Payable $1911; debit Discounts Lost $39; credit Cash $1950. B. Debit Merchandise Inventory $1950; credit Cash $1950. C. Debit Cash $1950; credit Accounts Payable $1950. D. Debit Accounts Payable $2500; credit Cash $2500. E. Debit Accounts Payable $1950; credit Merchandise Inventory $39; credit Cash $1911.