Walmart pulled out of Germany; Best Buy closed several stores in China. These examples illustrate that it is not possible to export a retail business model that has proven successful in the domestic market

A company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Proceeds from salvage of the demolished building was $1,200. Under the cost principle, the cost of land would be recorded at

a. $82,800. b. $72,000. c. $77,800. d. $84,000.

Advertising is often designed to add psychological value to a product or brand

Indicate whether the statement is true or false