Dyani runs Cute Cakes, a gourmet cupcake bakery. To set prices for her cupcakes, Dyani looks at the cost of making each cupcake and then adds an additional amount on top of that to arrive at her price. Dyani is using ________.
A. target return pricing
B. cost-plus pricing
C. high/low pricing
D. markup on sales price
E. average-cost pricing
Answer: B
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Tests designed to measure such mental abilities as verbal skills, quantitative skills, and reasoning ability are referred to as ________ tests.
A. physical ability B. job performance C. personality inventories D. cognitive ability E. honesty
An adjusting entry was made on year-end December 31 to accrue salary expense of $1900. Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $4400 payment of salaries in January of the following year?
A.
| Salaries Payable | 1900? | |
| Cash | 1900? |
B.
| Salaries Payable | 4400? | |
| Cash | 4400? |
C.
| Salaries Payable | 1900? | |
| Salaries Expense | 2500? | |
| Cash | 4400? |
D.
| Salaries Expense | 4400? | |
| Cash | 4400? |
E.
| Salaries Expense | 1900? | |
| Salaries Payable | 1900? |
A debit balance in the Retained Earnings account is referred to as a deficit
Indicate whether the statement is true or false
What a business owns is called ________.
A. liabilities B. assets C. net worth D. owner's equity