What conclusions can you draw about the relationship between the size of the sales force and gross sales?
What will be an ideal response?
In general, there is a positive relationship between the two variables; that is, as the number of people on the sales force increases, so do sales.
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Which of the following statements regarding contingencies is true?
a. Contingencies that are probable and estimable must be recorded before the outcome of future events. b. Contingent assets, if probable and estimable, are treated in much the same way as contingent liabilities. c. The accounting principle that determines whether a contingent asset is recorded is that of materiality. d. Contingencies that are not estimable should not be disclosed even if probable.
What part of the classic storytelling technique builds the audience's interest by increasing tension?
A) Preview to the story B) Introduction to the story C) Middle of the story D) End of the story E) Follow up to the story
You have been asked to create a product system for your company's personal digital assistant. Before starting, you must define the term product system to the engineers to enable them to start design and production of the aligned items
Define the concept of a product system.
The general ledger account for Accounts Receivable shows a debit balance of $25,000 . Allowance for Uncollectible Accounts has a credit balance of $1,500 . Net sales for the year were $250,000 . In the past, 3 percent of sales have proved uncollectible, and an aging of accounts receivable resulted in an estimate of $10,000 of uncollectible accounts receivable. Using the accounts receivable aging
method, the entry to record the Uncollectible Accounts Expense is: a. Uncollectible Accounts Expense 10,750 Allowance for Uncollectible Accounts 10,750 b. Uncollectible Accounts Expense 8,500 Allowance for Uncollectible Accounts 8,500 c. Uncollectible Accounts Expense 10,000 Allowance for Uncollectible Accounts 10,000 d. Uncollectible Accounts Expense 11,500 Allowance for Uncollectible Accounts 11,500