Profit is:
a. an increase in market share
b. revenue minus expenses
c. growth
d. increased power in the market place
e. increased risk
b. revenue minus expenses
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If controls are effective, there is a higher likelihood that the financial statements are free of material misstatement
a. True b. False Indicate whether the statement is true or false
Southern Security makes safes for storing valuables. When Ed sold safes for the company, he sometimes told a prospect, "The model safe you are looking at is on sale this week. If you wait until next week to buy, you will spend $100 more
" When Ed used this approach, he was using the ________ close. A) canned B) standing-room-only C) assumptive D) minor points E) stimulus-response
Mary is a bartender at a local pub. The state in which Mary works requires all bartenders to be
licensed. No special education or experience is required, but one must pay $25 per year for the license. Mary was not aware of this, so she did not obtain a license. When her boss found out about this, he refused to pay Mary for the two weeks of work that she had done. Mary sues. What results? A) Since this type of licensing is unconstitutional, Mary can collect her wages. B) Since this is a revenue raising statute, Mary can collect her wages. C) Since this is an illegal contract, the courts will not enforce it. D) Since this is a revenue raising statute, Mary cannot collect her wages. E) Since Mary violated a regulatory statute, the contract is illegal.
An agreement between a manufacturer and a wholesaler is horizontal
a. True b. False Indicate whether the statement is true or false