The major advantage of focus groups is that the reliability of the data collected is high unlike other qualitative methods.

a. True

b. False

Bill plans to open a self-serve grooming center in a storefront. The grooming equipment will cost $425,000, to be paid immediately.

On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $88,000. A total of $4,000 was paid for installation and testing.

Suppose that you have returned from your fishing expedition with 20,000 fish. The market price is $3 per fish. Your average fixed cost was $1 and your total variable cost was $5,000. If the price jumps to $3.

Julie and anna opened their store - "hot coffee, cool clothes" - just 12 months ago. the concept was based on a store that they saw when they visited new york on holidays in 2010.

Which of the following statements represent a weakness or limitation of ratio analysis? Check all that apply. Ratio analysis is conducted using benchmarking techniques.

Wages of $8,000 are earned by workers but not paid as of december 31, 2017. depreciation on the company's equipment for 2017 is $18,000. the office supplies account had a $240 debit balance on december 31, 2016.

You have placed an antique sofa up for auction and the auctioneer has not made any special announcements about the sale. You can withdraw the sofa at any time before the auctioneer closes the sale by announcement or by the fall of the hammer.

2. Provide a definition for the following terms: • Accounts receivable: Enter definition here. • Supplies: Enter definition here. • Prepaid rent: Enter definition here. • Furniture: Enter definition here.

What is the term applied to the amount that net sales exceeds cost of goods sold on an income statement?

Whenever marginal cost is greater than average total cost, A. average total cost is rising. B. marginal cost is falling. C. average total cost is falling. D. Both b and c are correct.