Many of the various risks faced by an FI often are interrelated with each other.

A merchandiser sold merchandise inventory on account. The journal entry to record sales allowances in the books of the merchandiser, using the perpetual inventory system would be:

A) Sales Returns and Allowances XX Accounts Receivable XX B) Merchandise Inventory XX Sales Revenue XX C) Cost of Goods Sold XX Sales Returns and Allowances XX D) Sales Returns and Allowances XX Cash XX

The account executive normally performs all of the following functions, except:

A) actively seeks new accounts B) serves as a liaison between the client and the agency C) prepares ad copy D) helps define the theme of the overall IMC campaign