At the end of the year or with major events such as buying a new home, getting a new job, having a baby, or getting a raise, it is always a good idea to sit down and reassess your overall annual budget.
Answer the following statement true (T) or false (F)
True
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Which of the following is an example of a combination of sales promotions and direct marketing?
A) a company giving discounts on their product prices in order to gain a brand image B) a company releasing a nationwide television ad about every buyer having a chance to win a lottery prize C) a company holding a press conference to talk about their new product D) a company's sales representatives meeting customers directly to present customized offerings E) a company sending an e-mail to a customer about a discount on a product during a holiday season
A contract entered into by an intoxicated person is never valid
a. True b. False Indicate whether the statement is true or false
The ________ own(s) a corporation.
A. shareholders B. board of directors C. CEO D. corporate officers
Assume accrual basis accounting is used. Which of the following statements about income statement accounts is correct?
A. Costs incurred to help generate revenue are only reported as expenses on the income statement if they are paid in cash in the same period as the revenue received. B. There is no Net Income account. C. Revenue accounts include Cash, Accounts Receivable, and Deferred Revenue. D. Revenue accounts are shown after the amount of expense accounts on the income statement.