In which of the following situations would personal selling be the LEAST cost-effective choice?
A) a manufacturer selling a line of running shoes to a chain of department stores
B) an automobile dealer selling luxury cars
C) a real estate agent selling a home
D) a chain of supermarkets selling convenience products
E) a computer systems firm selling hardware and software to a large business
D
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Garber Company lends Newell Company $20,000 on April 1, accepting a four-month, 6% interest note. Garber Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared?
a. Note Receivable 20,000 Cash 20,000 b. Interest Receivable 100 Interest Revenue 100 c. Cash 100 Interest Revenue 100 d. Interest Receivable 300 Interest Revenue 300
Is there an exception to the requirement of depositing trust funds within three business days of receipt?
a. No, it is the law so there are no exceptions. b. Yes, if the broker feels it would be a hardship on the buyer. c. Yes, if the offeror stipulates that the check is to remain uncashed until the acceptance of the offer and the offeree has been so notified. d. Yes, even after acceptance the broker can still hold the check and cash regardless of the wishes of the offeree.