You own a neighborhood grocery store and would like to have non-food items delivered, priced, displayed and inventoried by a wholesaler. You do not want to purchase title to the goods. Which type of wholesaler best fits your needs?
A) cash-and-carry wholesaler
B) rack jobber
C) drop shipper
D) mail-order wholesaler
E) agents and brokers
B
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Rural Power Utility, Inc., enters into a contract with Shovel Excavation Service to dig up, replace, and rebury Rural's cables in a certain location. Rural advances Shovel 10 percent of its cost. The parties rescind the contract. Shovel's refund of the payment is
A. a penalty. B. liquidated damages. C. restitution. D. a breach of contract.
Ecommerce includes ebusiness along with all activities related to internal and external business operations such as servicing customer accounts, collaborating with partners, and exchanging real-time information. During Web 1.0, entrepreneurs began creating the first forms of ecommerce.
Answer the following statement true (T) or false (F)
During its first year of operations, Silverman Company paid $19,000 for direct materials and $10,500 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9500 while general, selling, and administrative expenses totaled $5000. The company produced 6500 units and sold 4000 units at a price of $8.50 a unit.What was Silverman's net income for the first year in operation?
A. $5000 B. $4500 C. $29,000 D. $24,500
__________ is commonly referred to as the balance-sheet approach.
What will be an ideal response?