Which one of the following statements is correct?
A. Pretax income is equal to gross profit minus interest expense.
B. Gross profit is equal to sales minus costs of goods sold and depreciation.
C. Operating expenses are indirect costs.
D. The change in retained earnings is equal to net income plus dividends paid.
E. Costs that vary directly with production are classified as operating expenses.
Answer: C
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In U.S. business history, the marketing concept became a motivating force during ________.
A. the mid-1980s B. the 1920s C. the early years of the Civil War D. the first few years of the 21st century E. the 1950s
_____ describes the process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption.
A. Contract logistics B. Logistics C. Cross-docking D. Disintermediation E. Channel facilitation
Because of the integrated nature of ERP systems, having good ________ is one of the most important factors in successful projects
A) attorneys B) executives C) teamwork D) consultants E) all of the above
How would accountants estimate the amount of a company's uncollectible accounts expense?
A. Consult with trade association and business associates. B. Consider new circumstances that are anticipated to be experienced in the future. C. Compute as a percentage of credit sales. D. All of these answer choices are correct.