Markdowns, employee discounts, and stock shortages are examples of _____
a. LIFO accounting entries
b. pilferage
c. deductions from retail value
d. entries in the cost method of accounting
c
Business
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________ is a promise to refrain from doing an unlawful act, and therefore is a promise that will not support a contract
A) Preexisting duty B) Illusory promise C) Illegal consideration D) Gift promise
Business
The ________ ratio may indicate poor collections procedures or a relaxed credit policy
A) average payment period B) inventory turnover C) average collection period D) quick
Business