Mars is an independent distributer that distributes goods, such as keyboards, monitors, and computer cabinets to various business users. The company takes legal possession of the goods it distributes. The company warehouses the products, ships them to its customers, provides promotional assistance to the manufacturers, provides product repairs, and credit to customers. It is evident that Mars Inc. is a _____.
A. full-service merchant wholesaler
B. cash and carry wholesaler
C. limited-service merchant wholesaler
D. truck jobber
Answer: A
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Which of the following represents the expected norms of behavior in a particular situation?
A) Ethics B) Professionalism C) Being a team player D) Etiquette E) Communication
Step two in completing a worksheet is to
A) prepare the trial balance B) subtotal income debit and credit columns C) combine the trial balance amount of each account with the adjustments D) analyze accounts
The Jamison Company's inventory was destroyed on July 4, 2016, when its warehouse caught on fire early in the morning. Inventory was totally destroyed. The accounting records, which were located in a fireproof vault, contained the following information: Sales (1/1/16 through 7/3/16) $240,000 Purchases (1/1/16 through 7/3/16) 180,000 Inventory (1/1/16) 45,000 Gross profit ratio 25% of cost ? Using the gross profit method, what is the estimated cost of the inventory that was destroyed by the fire?
A. $15,000 B. $23,250 C. $33,000 D. $45,000
Which of the following statements about self-efficacy is true?
A. Self-efficacy is the same as self-esteem. B. The biggest predictor of a person's self-efficacy is his or her emotional state. C. A person with high self-efficacy is likely to work less hard than a person with low self-efficacy because he or she is already confident of good results. D. Self-efficacy can be developed. E. Self-efficacy is not related to prior experience.