Which term represents what a company owns, such as cash, inventory of materials, and buildings?

The accounting for cash discounts and trade discounts are

a. the same. b. always recorded net. c. not the same. d. tied to the timing of cash collections on the account.

Markets of Central and Eastern Europe present interesting opportunities and challenges. Companies such as 3M International, McDonald's, Philips Electronics, and Henkel are moving into the region for all of the following reasons except:

A) that region is an important new source of growth. B) that the first company to penetrate a country market often emerges as leader. C) wage rates are much lower than those in Spain, Portugal, and Greece. D) that region offers attractive locations for low-cost manufacturing. E) core products and Western brand names need changes are appropriate for business.