Anderson Furniture sold 15 desks, with a cost of $5,500, for $12,250 on account. Anderson uses the periodic inventory system. Which of the following is the correct way to record this transaction?
A)
Sales Revenue 12,250
Accounts Receivable 12,250
B)
Accounts Receivable 12,250
Sales Revenue 12,250
Cost of Goods Sold 5,500
Merchandise Inventory 5,500
C)
Accounts Receivable 12,250
Sales Revenue 12,250
D)
Accounts Receivable 12,250
Sales Revenue 12,250
Purchases 5,500
Merchandise Inventory 5,500
C
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A licensed real estate broker states that a lot is 1/3 of an acre, when in fact the lot is 1/4 of an acre. The agent is guilty of:
a. false promise b. divided agency c. secret profit d. misrepresentation
Which business strategy involves implementing a new, more efficient set of business processes that other firms cannot yet obtain?
A) strategy of cost competition B) scope strategy C) customer intimacy strategy D) focus/market niche strategy