Profit is not the objective of business but it is the result of business

Journalize the following transactions for Griffin Company. Assume a perpetual inventory system. Also, assume a constant gross profit ratio for all items sold. Make sure to enter the day for each separate transaction.

In a bottom-up estimate, the size of the individual work items is one of the factors that drives the accuracy of the estimates. a. True b. False

Price discrimination:A. by firms selling to final consumers is illegal, but it is usually legal in selling to intermediaries. B. is not covered by Federal laws, but in some states it is illegal. C. is always illegal. D.

n the case where interest rates are higher in Canada, which of the following is an example of a "carry trade" a. Increase borrowing in the US and invest in the US b. Increase borrowing in Canada and invest in Canada c.

Firms will hire additional workers as long as the nominal wage: A. is less than the marginal product of labor. B. equals the marginal product of labor. C. is greater than the marginal product of labor. D.

Jared runs a personal training studio, earning $5,000 last month. His fixed costs are $4,000, and his variable costs are $3,500. Should Jared shut down his business immediately? a) Yes, because he is clearly losing money.

On January 1, a company issues bonds dated January 1 with a par value of $600,000. The bonds mature in 3 years. The contract rate is 7%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $564,000.

Partridge Co. can further process Product J to produce Product D. Product J is currently selling for $21 per pound and costs $15.75 per pound to produce. Product D would sell for $37 per pound and would require an additional cost of $9.

What is the largest source of income for banks? a. the interest they receive from loans b. fees charged to customers for accounts c. money deposited in savings accounts d. special accounts such as NOW accounts

After committing to take a job offered by Acme Engineering brokered by the Career Center, a young engineer graduate is tempted to decommit and take a job offer from Nexus Industries.