Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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Please explain all options
1) HST is
A) Applicable on all invoices you issue but not on vendor invoices
B) Applicable on all invoices you pay but not on invoices issued
c) 13% is uniformly paid to the federal government in Canada
d) A tax you include in your payments to your contractors
2) Competitive advantage can be gained through
a) Skimming pricing strategy
b) Focusing on distribution of your products in large retail stores
c) Customer service enhancements
d) Strategically following a low cost strategy
3) Which of the following is not a
a) Taxes
b) Payments for future purchases
c)
d) Payroll costs
4) If cost of goods sold is high relative to sales, it implies
a) High variable costs
b) That it does not matter
c) High profit margin
d) High fixed costs
5) Which one of the following is not true about franchising?
a) Franchising contracts can include area developers
b)Franchisee has full operational freedom
c) Franchisor supports the operations of the franchisee
d) Proven marketing methods of the franchisor tend to help the franchisee
6) Environmental analysis pertains to
a) Analyzing the impact of the climate on your business
b) Analyzing the market and economic and other such factors
c) Analyzing how well your competitors are doing
d) Studying the environment
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