Market screening is divided into which of the following:
A. Country and segment screening
B. Regional and environmental screening
C. Competitive and price screening
D. Environmental and contextual screening
Answer: A
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Every correction of an error that requires restatement of prior year financial statements requires a journal entry to increase or decrease the beginning balance of Retained Earnings
Indicate whether the statement is true or false
Which of these actions is applicable under the Uniform Gifts to Minors Act?
A. Gifts of registered securities can be made by merely delivering the securities to a bank trustee. B. Adults can make a gift of money to minors by depositing the money with a bank in an account in the donor's name. C. Adults are prohibited from making gifts of unregistered securities to minors. D. Gifts of unregistered securities can be made by registering the securities in the name of another adult.
Able and Baker are both residents of Iowa, but they have a dispute regarding some land located in Kansas. Able gives Baker reasonable notice that she is filing a lawsuit in Kansas regarding the land and Baker objects, claiming the Kansas courts have no jurisdiction. In this case:
a. only the Iowa courts can hear the case. b. the Iowa federal district court can hear the case based on diversity of citizenship. c. the Kansas courts have in rem jurisdiction to adjudicate the claim regarding the property. d. the Kansas federal district court can hear the case based upon diversity of citizenship.
On April 6, Year 1, Gringotts Company purchased $140,000 of merchandise inventory. Terms of the purchase included a discount of 3/20, n/30 and the freight terms were FOB destination. Freight costs amounted to $4,600. Gringotts paid the account payable on April 24. Gringotts sold all inventory for $189,500.Required: What is the amount of gross margin that will be shown on the income statement?
What will be an ideal response?