Bobbi and Stuart are partners. The partnership capital of Bobbi is $40,000 and Stuart is $70,000. Bobbi sells his interest in the partnership to John for $50,000. The journal entry to record the admission of John as a new partner would include
A) a credit to John's capital for $40,000
B) a credit to Stuart's capital for $10,000
C) a credit John's capital for $50,000
D) a credit to John's capital for $40,000 and a credit to Stuart's capital for $10,000
A
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Which of the following statements is true of target pricing?
A) It starts with the price that customers are willing to pay. B) It uses the full product cost that a company estimates to arrive at the sales price. C) It does not consider the nonmanufacturing costs when calculating the target cost. D) It is the same as cost-based pricing.
Generally speaking, which of the following product categories represents the best potential for extension into international markets without adaptation?
A) companion products B) food products C) industrial products D) intangible products E) non-alcoholic drinks