A sales invoice included the following information: merchandise price, $12,000; terms 1/10, n/eom; FOB shipping point with prepaid freight of $900 added to the invoice. Assuming that a credit for merchandise returned of $500 is granted prior to payment and that the invoice is paid within the discount period, what is the amount of cash that should be received by the seller?

A) $12,285
B) $11,500
C) $10,480
D) $11,385

Johnston Co.anticipates total fixed costs of $120,000 and variable costs equal to 40% of sales.What is the pretax income if sales are $650,000?

The profile of characteristics making an individual unique from others is referred to as ___.

A) a stereotype
B) personality
C) self-serving bias
D) the locus of control
E) cognitive dissonance

Without making reference to its formula, provide a definition of current ratio.

Johnson uses the periodic inventory system and the net method of accounting for purchases.The journal entry that Johnson will make on September 12 is:

A)
B)
C)
D)
E)

Cooper Foods, a food manufacturer, decides to sell its ready-to-eat meals to consumers in the country of Pinetown. The company designs a product positioning strategy to promote its ready-to-eat meals among working professionals who are often unable to prepare meals on working days due to their hectic schedules. Within a few months, Cooper Foods successfully establishes itself in the Pinetown market. Given this information, it can be said that Cooper Foods engaged in _____.

A) global market segmentation
B) business process outsourcing
C) vertical integration
D) insourcing

Merchantable food is food that is fit to eat based on consumers' reasonable expectations.