Herndon Corp purchased merchandise on account from Likert Corp on November 18, 2014 . On November 21, 2014, Herndon returned damaged merchandise to Likert and was granted an adjustment on its account. Herndon uses the periodic inventory system. What effect does the merchandise return have on Herndon's accounting equation?
a. Assets and stockholders' equity decrease.
b. Assets and liabilities decrease.
c. Liabilities decrease and stockholders' equity increases.
d. Liabilities and stockholders' equity decrease.
c
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A marketing researcher feels that her job is becoming more and more challenging. All of these factors could make the job of a marketing researcher more challenging, EXCEPT:
a. people are using gatekeeper technologies more extensively. b. newer technologies are radically changing the way marketing research information is collected, processed, and distributed. c. the marketing researcher's firm has recently ventured into several foreign markets. d. advances in statistical software have made it difficult to do data analysis. e. marketing research is playing a more important role in strategy development.
Only personal property can be used in a bailment
Indicate whether the statement is true or false