The following is from Goldman Inc's 2016 income statement. Purchases $172,000 Transportation-In 11,000 Inventory, January 1, 2016 26,500 Inventory, December 31, 2016 28,800 Purchase Returns and Allowances 8,400 How much will Goldman report as its cost of goods sold in its 2016 income statement?
a. $172,300
b. None of these choices
c. $161,500
d. $161,300
a
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Which of the following acts protects consumers who have errors in credit card billings?
a. Equal Credit Opportunity Act. b. Fair Credit Billing Act. c. Fair Debt Collection Practices Act. d. Truth-in-Lending Act.
Which of the following is NOT a cost of carrying inventory?
A) purchase cost B) capital costs C) storage costs D) all of the above E) none of the above
Suppose Walker Publishing Company is considering bringing out a new finance text whose projected revenues include some revenues that will be taken away from another of Walker's books. The lost sales on the older book are a sunk cost and as such should not be considered in the analysis for the new book.
Answer the following statement true (T) or false (F)
SuperMeds Corporation has just developed a new drug that controls severe acne. The drug is not approved by the FDA for use in the United States because it contains a chemical known to produce negative side effects after many years of continuous use. SuperMeds finds that it can profitably sell the drug in Mexico because the questionable chemical is not banned there. Whether it is ethical to sell
the drug in Mexico depends on? A)?the number of years before side effects show up. B)?the number of potential customers. C)?which legal standards are applied. D)?which ethical standards are applied.