Price is not used for trade promotions as it garners a negative opinion for the brand
Indicate whether the statement is true or false
a. True
b. False
ANSWER: False
Price is often used as a promotional tool to increase consumer interest. Pricing can be a tool for trade promotions as well.
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The accounts receivable turnover ratio indicates whether a company could pay all its current liabilities if they were to become due immediately
Indicate whether the statement is true or false
Harrison, an employee of Saft Associates, Inc, has gross salary for March of $4,000
The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Harrison has a deduction of $320 for health insurance and $80 for United Way. Which of the following is included in the entry to record the disbursement of his net pay? A) credit to Salaries and Wages Payable B) debit to United Way Payable C) debit to FICA Taxes Payable D) credit to Cash