A price of $5.95 for a product would fall into the category of odd-number pricing.
Answer the following statement true (T) or false (F)
True
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Mountain Rescue Incorporated sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its competitors, which offer a larger line of more expensive products and focus on broader markets. Mountain Rescue Incorporated is pursuing a ____ strategy.
A. cost-focus B. cost-leadership C. differentiation D. narrow E. focused-differentiation
A merchandiser purchased inventory on account for $17,000. In a periodic inventory system, the journal entry to record the purchase would include ________.
A) a debit to Purchases for $17,000 and a credit to Accounts Payable for $17,000 B) a debit to Accounts Payable for $17,000 and a credit to Purchases for $17,000 C) a debit to Merchandise Inventory for $17,000 and a credit to Accounts Payable for $17,000 D) a debit to Accounts Payable for $17,000 and a credit to Merchandise Inventory for $17,000
Which of the following statements about financial accounting is correct?
A. Financial accounting reports are primarily prepared to provide information for external decision makers. B. Financial accounting reports are used primarily by employees to make business decisions related to production. C. Financial accounting reports are used primarily by management to understand whether a product line should be discontinued. D. Financial accounting reports primarily contain detailed internal records of the company.
Jones Enterprises purchased a bond on August 31 of the current year for $250,000 and classified the investment as an available-for-sale debt. The market value of the available-for-sale debt investment at year-end is $255,000. The adjustment is ________.
A) subtracted from the Available-for-Sale Debt Investments account to arrive at the amount reported on the balance sheet B) recorded as a debit to Fair Value Adjustment - Available-for-Sale C) recorded as a debit to Unrealized Holding Gain - Available-for-Sale D) reported as a $5,000 unrealized holding gain in the income statement