When the revenue is more than the costs for a business, it is making a profit.

True

False

Problem 13-3 A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. a.

What do you think are factors that influence whether someone purchases a product or not?

Which of the following is a characteristic protected by anti-discrimination laws?

When supply is > demand for a business is: a. High profit b. Customer dissatisfaction impact c. Ideal d. Wasteful/Costly

True or false: Net profit tells a business how much profit they have earned.

Montana Company was authorized to issue 200,000 shares of common stock. The company had issued 50,000 shares of stock when it purchased 10,000 shares of treasury stock.

The following items caused the only differences between pretax financial income and taxable income. 1.

Which of the following characteristics would lead the auditor to assess control risk at a higher level? a. It is difficult for the auditor to determine or gain access to the organization or individuals who own and/or control the entity. b.

The reason for the Fed being set up as an independent agency of government is to:

Headings in reports that describe the content of the section and may even give a conclusion about the section are called: