Cost flow is in the reverse order in which costs were incurred when using

a. weighted average

b. last-in, first-out

c. first-in, first-out

d. average cost

Suppose consumers suddenly start preferring soccer over football. How does this change affect consumer demand for football? Choose one:A. Demand increases. B. Demand decreases. C. Demand does not change.

Why do employers prefer employees with good work ethics? A. because an employee with good work ethics will always be a team player B. because an employee with good work ethics will always be punctual C.

Lewis Company uses the allowance method for recording its expected credit losses. It estimates bad debts at 2% of credit sales, which were $900,000 during the year.

Which of the following is not considered a credit? A. Interest earned B. Overdraft fee C. Direct deposit D. Transfer into account

Andrea, an enterprising individual, wants to open a store in her town. She wants her store to be of the same type as a popular coffee chain that is successfully opening in a city nearby. Andrea wants to become a (n) A. business incubator. B.

Eve and her three college friends enjoy perfumes. As a special gift to each of them last holiday season, she found a way to make scented candles with each friend's favorite perfume scent.

The demand for a good is inelastic with respect to price if the price elasticity of demand is:

At the end of the year, Dahir Incorporated's balance of Allowance for Uncollectible Accounts is $2,700 (debit) before adjustment. The company estimates future uncollectible accounts to be $13,500.

Which best explains why large companies pay less for goods from wholesalers?

The marketing manager of ToyBiz indicated that due to manufacturing efficiencies and market buzz, a new toy they were about to launch was likely to generate revenue beyond original projections.