When business buyers purchase items such as grease, electricity, typing paper, and paper clips, they are buying
A. accessory equipment.
B. maintenance supplies.
C. repair supplies.
D. operating supplies.
E. components.
Answer: D
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Which of the following is a fallacy of international trade?
a. Trade is a zero-sum activity. b. Exports increase employment in exporting industries. c. Import restrictions increase employment in import-competing industries. d. Tariffs and quotas reduce trade.
Which of the following statements is true of department stores?
A. They can be categorized into two tiers. B. They offer a limited variety and shallow assortment of merchandise. C. They often resemble a collection of specialty shops. D. They are usually located in local neighborhoods rather than large regional malls. E. They focus almost exclusively on hard goods.
On January 1, 2018, Denver Services issued $20,000 of 8% bonds that mature in five years. The bonds were issued for $19,000.
Prepare the journal entry to issue bonds. Omit explanation.
Sales returns and allowances are deducted from gross sales on the income statement
Indicate whether the statement is true or false