Category managers are usually assisted

Answer the following statements true (T) or false (F)

1) Freight in is a delivery expense to the seller. 2) Freight charges to ship goods to customers is recorded as a debit to Delivery Expense. 3) A merchandiser adjusts and closes accounts differently than a service entity does. 4) Merchandisers must adjust for estimated sales returns and inventory shrinkage. 5) The loss of inventory that occurs because of theft, damage, and errors is referred to as inventory shrinkage.

Which of the following would NOT be included in a statement of tactics?

A) plan objective B) follow-up protocol C) task assignments D) demographic data E) necessary resources

Emma Co sold Isabella Co merchandise on account FOB shipping point, 2/10, net 30, for $25,000. Emma Co prepaid the $500 shipping charge. Using the perpetual inventory method, which of the following entries will Isabella Co make if Isabella Co pays within the discount period?

A) Accounts Payable-Emma Co., debit $25,000; Freight In, credit $500; Cash, credit $24,500 B) Accounts Payable-Emma Co., debit $25,500; Merchandise Inventory, credit $500; Cash, credit $25,000 C) Accounts Payable-Emma Co., debit $25,000; Freight In, debit $500; Cash, credit $25,500 D) Accounts Payable-Emma Co., debit $25,500; Merchandise Inventory, debit $500; Cash, credit $26,000

Because today's technologies provide many alternate communication channels, face-to-face communication is no longer important in business and professional transactions

Indicate whether the statement is true or false