Tariff C
Taxes took the test before
Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy.The planning team comes up with a list of options for the new mission statement.The CEO stresses that the new mission statement should be market-oriented rather than product-oriented.Which of the following mission statements should the company pick?
A)to create the best possible products and sell them at the best possible price
B)to sell cosmetics products that are hypoallergenic and made only from the finest natural materials
C)to give customers the complexion they dream about by providing a range of products suited to their needs
D)to sell affordably priced cosmetics in every cosmetics product category
E)to increase our market share in the cosmetics segment and increase profit margin
Answer:
C)to give customers the complexion they dream about by providing a range of products suited to their needs
.
1) A. C.
2) A. E.
3) B. C.
4) B. F.
5) A. E.
6) A. C.
7) B. F.
8) B. C.
Explanation:
1) Delta Airlines provided flights this month for customers who paid cash last month for tickets. Revenue has been earned. Liability has been incurred.
2) GSD+M completed work on an advertising campaign that will be collected next month. Revenue has been earned. Asset has been acquired.
3) Abercrombie received a telephone bill for services this month, which must be paid next month. Expense has been incurred. Liability has been incurred.
4) The Tiger Woods Foundation used up some of the benefits of its 35,000-square-foot building. Expense has been incurred. Asset has been used up.
5) IBM completed a consulting project for the CDC to simulate the spread of contagious viruses and will be paid next month. Revenue has been earned. Asset has been acquired.
6) This month Apple, Inc. redeemed iTunes gift cards that had been issued last month. Revenue has been earned. Liability has been incurred.
7) Schutt Sports used up some of the benefits of its football helmet manufacturing equipment. Expense has been incurred. Asset has been used up.
8) Procter & Gamble received a bill for this months advertising services, which it will pay next month. Expense has been incurred. Liability has been incurred.
Answer:
A) Operating expenses are increased
Explanation:
when the wages are subsequently paid, the liability account is not affected as well as the cash account, retained earnings is not affected and also the operating income is not affected.
Therefore, The operating expenses have to increase as the wages count towards operating expenses.
When it comes to investing, the typical relationship between the risks and returns was that the greater the potential risk, the greater the investment return an investor will get. That is why investments are very risky, and an investor must be a risk-taker to attain such success.
