Bus 302l - Study guides, Class notes & Summaries

A company sells pretzels for $1.50/bag. Their February ending inventory was $1,600. Marketing prepares the following forecast: January 15,000 bags February 12,000 bags March 16,000 bags Total 43,000 bags Projected sales for April are 13,000 bags. Try to maintain 10% of the next month's forecasted sales in inventory. What is the projected for March? Answer> 13,000*10%= 1,300 March: 16,000 Feb ending inv: (1,600) =1,300+16,000-1,600 = 15,700 Same info as no 1. What is the sales b...

In the annual report, where would a financial statement reader find out if the company's financial statements give a fair depiction of its financial position and operating results? - Auditor's report Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments? - Going Concern Assumption Johnny's Car Repair Shop started the year with total assets of $60,000 and total liabilities of $40,000. During the ...

BUS 302L - Business Law Questions and Answers | Latest Update | Already Graded A **Question:** Paul visited Dan's Bookstore and was briefly detained by Dan on suspicion of theft, which later proved to be unfounded. Paul subsequently sued Dan for false imprisonment. What legal principle is likely to determine the outcome of this case? **Options:** - Dan will prevail if he acted reasonably based on a suspicion of theft. - Dan will lose because no theft occurred. - Dan's actions...

In the annual report, where would a financial statement reader find out if the company's financial statements give a fair depiction of its financial position and operating results? Answer> Auditor's report Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments? Answer> Going Concern Assumption Johnny's Car Repair Shop started the year with total assets of $60,000 and total liabilities...

Bus 302L Micro Economics Questions and Answers | Latest Update | 2024/2025 | Already Passed Why does every economic decision involve making choices? - A. To maximize profits - B. To minimize costs - C. To consider opportunity costs - D. To pursue self-interest - E. To explore alternative options **Correct Answer:** C. To consider opportunity costs --- If Ryan chooses to study instead of going for a bike ride, what does he give up? - A. The transportation cost to stu...

BUS 302L Law Questions and Answers Latest Update | 2024/2025 | Already Passed **Offer Requirements include:** Choices: - Intent to contract - Definiteness of terms - Communication - Acceptance within 24 hours Answer: Intent to contract, definiteness of terms, communicated **Firm Offer Requirements (Merchant Rule) specify that the offer must:** Choices: - Be made by an offeror who is a merchant - Be communicated verbally - Be valid for at least 30 days - Include a non-refund...

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A company sells pretzels for $1.50/bag. Their February ending inventory was $1,600. Marketing prepares the following forecast: January 15,000 bags February 12,000 bags March 16,000 bags Total 43,000 bags Projected sales for April are 13,000 bags. Try to maintain 10% of the next month's forecasted sales in inventory. What is the projected for March? Answer> 13,000*10%= 1,300 March: 16,000 Feb ending inv: (1,600) =1,300+16,000-1,600 = 15,700 Same info as no 1. What is the sales b...

A company sells pretzels for $1.50/bag. Their February ending inventory was $1,600. Marketing prepares the following forecast: January 15,000 bags February 12,000 bags March 16,000 bags Total 43,000 bags Projected sales for April are 13,000 bags. Try to maintain 10% of the next month's forecasted sales in inventory. What is the projected for March? - 13,000*10%= 1,300 March: 16,000 Feb ending inv: (1,600) =1,300+16,000-1,600 = 15,700 Same info as no 1. What is the sales budget for Ja...

BUS 302L Managerial Acc Questions and Answers | Latest Update | 2024/2025 | Already Passed The company sells pretzels at $1.50 per bag and had an ending inventory of $1,600 in February. Marketing prepared the following sales forecast: January, 15,000 bags; February, 12,000 bags; March, 16,000 bags; totaling 43,000 bags. April's projected sales are 13,000 bags, with an inventory policy to maintain 10% of the next month's forecasted sales. **To calculate March's projected inventory...