Clothing is a "necessary."
Indicate whether the statement is true or false
T
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As a general principle, under the accrual basis of accounting, the firm recognizes revenue when the transaction meets which of the following conditions?
a. Revenue is recognized when there is completion of the earnings process, only. b. Revenue is recognized when there is receipt of assets from the customer, only. c. Revenue is recognized when there is completion of the earnings process and receipt of assets from the customer. d. Revenue is recognized when there is expiration of the warranty period, only. e. Revenue is recognized when there is receipt of the final payment, only.
Company management is having a difficult time deciding whether to allot more money to a marketing campaign involving ad buys and promotional events, or to a staff of sales representatives to sell the organizers
What factor should they consider in allotting the budget? A) A national marketing campaign can cost more than the yearly salaries of an entire sales department. B) A marketing campaign can reach prospects in several geographic areas at the same time. C) Salespeople can visit several retail outlets a day. D) Salespeople work on commission. E) Even with a marketing campaign, retail outlets will need to order through and be trained on product knowledge by salespeople.
The actual quantity of input at the actual price less the actual quantity of input at the standard price is the price variance
Indicate whether the statement is true or false
During the holiday shopping season, many catalog retailers offer buyers price reductions, coupons, two-for-one deals, and/or free delivery. This is because these catalog retailers operate in a(n) ________ environment.
A. marginal competition B. monopoly C. oligopoly D. monopolistic competition E. pure competition