Deferred gross profit on installment sales is generally reported as
A. a contra revenue account..
B. a current liability.
C. a contra asset account.
D. a deduction from gross profit.
Ans: B. a current liability.
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A broker cannot:
a. remain silent when a material fact is only known to him b. keep a trust account for earnest money deposits c. keep $200 of his own money in his trust account d. give funds to the buyer or seller, if disclosed to both.
The trade-off that a supply chain manager must consider when planning safety inventory is
A) increasing product availability versus increasing inventory holding costs. B) decreasing product availability versus decreasing inventory holding costs. C) increasing product availability versus raising the level of safety inventory. D) decreasing product availability versus decreasing the level of safety inventory.