7. Carbon retirement involves retiring allowances from emission trading schemes as a method for offsetting carbon emissions. California’s cap-and-trade program, launched in 2013, is among a suite of major policies the state is using to lower its greenhouse gas emissions. Discounts and allowances are reductions to a basic price of goods or services.. 249. The First Year Allowance means that the full cost (£15,000) of the low CO2 car can be claimed as a capital allowance on Amber’s 2020/21 Self Assessment tax return. 2. Such posts are deemed as market abuse, and may be reported to the appropriate authorities. Trade promotions on average represent approximately _____ percent of total U.S. marcom expenditures. A _____is a list of individual accounts, usually in financial statement order, prepared as a check on theaccounting system. Answers: 3 Get Other questions on the subject: Business. Tax reference number : Part 2 – Election I elect to carry back the following amounts of estimated unabsorbed capital allowances and/or trade losses for the YA 2020 to the immediate preceding YA(s) under the following schem e: one-year carry-back relief (i.e. 5. b. A) One objective is to increase consumer retail sales of the manufacturer's brand. Because no off-invoice allowances are offered when a manufacturer uses everyday low pricing, EDLP(M), retailers _____. 8. ____ are fees manufacturers pay retailers for access to the slot, or location, that the retailer must make available in its distribution center to accommodate the manufacturer's new brand. There is no registration of trade secrets. Echo Company's 2014 beginning and ending accounts receivable balances were $72,500 and $41,250 respectively.During 2014,the company's sales (all on credit)amounted to $857,250.Per Echo's 2014 cash flow statement,$873,500 was collected from customers while $18,750 related to uncollectible accounts was listed among the "non-cash expenses." 22. Which of the following is false regarding trade secret protection? A retailer can exercise its power in a channel by _____. A. A company's client list may be considered a trade secret. 6) Which of the following statements is true about channel-originated promotion? placing an order during the period which General Mills is “dealing” a brand. Calculate the amendments required from your colleague's query regarding the capital allowances. Which of the following is NOT true regarding slotting allowances? The rights and obligations assertion for accounts receivable may have a high level of inherent risk if the company sells or pledges accounts receivable. Trade allows people to buy a greater variety of goods and services at lower cost. Answer: Giving the intermediaries incentives to carry and sell the product. The promotional incentive _____ changes a brand's perceived price or value. Scarcity could be eliminated if all economies of the world would adopt a free market system. RDA is statistically defined as two standered deviations (SD) above estimated average requirement (EAR) [B]. without concern for whether a manufacturer’s specific brand benefits from the trade promotion. Which one of the following statements is false regarding the Zollverein formed in 1834? Which of the following statements is true regarding trade in agriculture? The allowance method provides in advance for uncollectible accounts think of as setting aside money in a reserve account. Merchandise Inventory Sep.1 5,700 + Purchases 32,000 - Purchases returns and allowances 1,200 - Purchases discounts 960 + Freight In 1,040 - Merchandise Inventory Sep.30 6,370 = 30,210 Cost of Goods Sold Sales 63,000 - Sales returns and allowances 910 = 62,090 Net Sales Net Sales - Cost of Goods Sold = … The Sales Returns and Allowances account is a contra revenue account, meaning it opposes the revenue account from the initial purchase. 44. 6. Consumers obtain _____ benefits when taking advantage of sales promotion offers, including a sense of being a wise shopper, and/or a need for stimulation and variety. a. Which of the following is FALSE regarding trade allowances? selling increased quantities of the manufacturer's brands to shoppers. B.General ledger. A. Price-off programs encourage consumers to wait for another price-off. Course Hero is not sponsored or endorsed by any college or university. Group of answer choices. By signing below, I affirm the following: 1. Trade promotions are most effective when _____. A. This is an example of which type of trade promotion? Leave allowances, Readjustment allowances or "termination payments." B.General ledger. Study Chapter 14: Audit of the Sales and Collection Cycle: Test of Controls and Substantive Tests of Transactions flashcards from Kia Rainey's Florida International University class online, or in Brainscape's iPhone or Android app. In the sales revenue section of an income statement, the sales returns and allowances account is subtracted from sales because these accounts have the opposite effect on net income. The practice of _____ consists of retailers purchasing enough products on one deal to carry them over until the manufacturer's next regularly scheduled deal. It abolished trade barriers. 39. Net realizable value equals the sales price of an item less reasonable further costs to both make the item ready to sell and to sell it. C. Competitors may not discover trade secrets by doing reverse engineering. 3. C. Sales Revenue. the "supplementary allowance") calculated on the following basis :— ... worker who has been employed by any regarding employer in any trade on the day employment. Test bank Questions and Answers of Chapter 8: Receivables. You apply writing down allowances to the sum of the following: 47. Large retail chains, unlike smaller chains, are able to merchandise their own _____ brands, and because these brands can be sold at lower prices than manufacturers' comparable brands, large chains are able to use their brands to satisfy the needs of price-sensitive consumers while selling manufacturers' brands at their normal price and pocketing the trade allowance as extra profit. 2. Add the following new Master Glossary terms to Subtopic 310-10, with a link to transition paragraph 310-10-65-2, as follows. This discount is called a(n) _____. I was afforded the opportunity to ask questions regarding Job Search Allowances and all of my questions were answered satisfactorily. 45. Which of the following is FALSE regarding trade allowances a One objective is. One benchmark for efficiency is the size of local government, measured in terms of municipal spending perresident. _____ refers to any incentive used by a manufacturer to encourage the sales force to aggressively sell it. 29. 13. Which of the following statements is true? 26. usage-related thoughts about a product are vivid in a consumer's memory. increased brand parity and price sensitivity. Accounting Auditing: A Risk Based-Approach to Conducting a Quality Audit Which of the following statements is false regarding inherent risks associated with accounts receivable? b. product. 50. What type of strategy is Coppertone using? 2. 45. 18. RDA is defined as being equal to adequate intake (Al) [D]. Start with the capital allowances figure given above and indicate by the use of zero (0) any items referred to in query 3 which do not require adjustment. California’s cap-and-trade program, launched in 2013, is among a suite of major policies the state is using to lower its greenhouse gas emissions. 1. The answer depends on your definition of statement, It is a grammatical correct English declarative sentence which may be a statement by one definition. BuyRight informs Lippincott that in order to justify the cost of adding a new product line to its shelves, it will have to charge Lippincott $250 for every store in the BuyRight chain that stocks Lippincott's new product. In order to avoid paying slotting allowances, a manufacturer can _____. I understand that giving any false information or withholding information in order to obtain or increase Allowance definition is - a sum granted as a reimbursement or bounty or for expenses; especially : a sum regularly provided for personal or household expenses. 25. The trade-off for efficiency gains is intermunicipal inequality. 38. The definition of variable remuneration was extended to include any amount paid or granted in reimbursement of any expenditure. C.Balance sheet. RDA is defined as being equal to the estimated average requirement(EAR) [C]. Accounting Auditing: A Risk Based-Approach to Conducting a Quality Audit Which of the following statements is false regarding inherent risks associated with accounts receivable? for the allowance if it is depreciable under Section 168 (which contains the MACRS) and acquired for use in the active conduct of a trade or business. Which of the following is a factor accounting for the shift from consumer advertising to promotion? Which of the following statements about recommended dietary allowances (RDA) is true – [A]. 42. permanently stop an established brand's declining sales trend. 4. 48. Which of the following is true regarding scarcity? Which of the following is an effort by manufacturers to rectify trade allowance problems? California’s emissions trading program is the fourth largest in the world, following the cap-and-trade programs of China, the European Union, and the Republic of Korea. Voluntary purchasers can offset their carbon emissions by purchasing carbon allowances from legally mandated cap-and-trade programs such as the Regional Greenhouse Gas Initiative or the European Emissions Trading Scheme. Examples include, but are not limited to, short-term promotional incentives, such as receiving a discount or allowance for early payment, placing a … An objective that manufacturers can have for using trade-oriented promotion is to _____. the Federal Trade Commission the American Marketing Association the National Truth in Advertising Firm O the American Advertising Commission. Class of Financing Receivable A group of financing receivables determined on the basis of all of the following: a. CatGenie quickly develops a special price-off deal to prevent the competitor from stealing market share. 7. The following allowances are to … Many grocery retailers find it easy to rationalize slotting allowances on the grounds that their net profit margins in selling, groceries are minuscule (typically _____ percent) and that slotting allowances enable them to earn returns comparable to those. This is an example of a _____ strategy. With trade, one country wins and one country loses. 49. Award: 1.00 point Which of the following statements regarding a trade-in allowance is most accurate? The allowance method represents the accrual basis of accounting and is the accepted method to record uncollectible accounts for financial accounting purposes. Trial balance. Retailers usually pass along to consumers the discounts they receive from manufacturers. The rights and obligations assertion for accounts receivable may have a high level of inherent risk if the company sells or pledges accounts receivable. If you claim Maternity Allowance this will not affect your eligibility for the grant. RDA is defined as being equal to adequate intake (Al) [D]. 17. Most manufacturers rate the value of trade allowances as fair or poor. 43. A) Credit must be authorized before the sale. Which one of the following statements is false regarding the Zollverein formed in 1834? D. It abolished feudal system. Advertising expenditures as a percentage of total marketing communications expenditures are approximately _____ percent. But let's say you think your trade is worth more than that, and you demand $17,000 -- $2000 over ACV. It abolished trade barriers. 30. The Lippincott Company, a manufacturer of canned vegetables, would like to sell the supermarket chain BuyRight on the idea of stocking a new line of pre-cooked salt-free vegetables. Suppose that CatGenie learns that one of its competitors, NoMoreLitter, is about to introduce a new product. Echo Company's 2014 beginning and ending accounts receivable balances were $72,500 and $41,250 respectively.During 2014,the company's sales (all on credit)amounted to $857,250.Per Echo's 2014 cash flow statement,$873,500 was collected from customers while $18,750 related to uncollectible accounts was listed among the "non-cash expenses." D) All of the above should be of concern to the auditor. It reduced the number of currencies. D. Price-offs can be used with new products. Dayton's would have received a(n) _____. Answer: It comes directly to the customer from the manufacturer. 4) Which of the following statements is true about customer promotion? 48. The trade part is a market for companies to buy and sell allowances that let them emit only a certain amount, as supply and demand set the price. There has been a shift from a primarily pull promotion strategy to a primarily push strategy on the part of manufacturers. 8. The allowance method represents the accrual basis of accounting and is the accepted method to record uncollectible accounts for financial accounting purposes. A. 46. The _____ strategy consists of a manufacturer directing personal selling, trade advertising, and trade-oriented sales promotion to wholesalers and retailers. Which of the following is NOT a reason that accounts for why many retailers resist manufacturers' EDLP pricing initiatives? B. A $100 allowance requires the same entry. 44. Test bank Questions and Answers of Chapter 8: Receivables. 49. Tim earns a salary of $40,000. The regular selling price per case is $24, but Supershop received a 15 percent discount off the regular case price. 3. 1. 19. 128. D.Cost of goods sold. B) Goods must be shipped after the authorization. a) The United States exports almost 50 percent of its agriculture production. 16. Higher market share brands are less deal elastic. California’s emissions trading program is the fourth largest in the world, following the cap-and-trade programs of China, the European Union, and the Republic of Korea. 37. 24. What is this type of allowance called? Many grocery retailers find it easy to rationalize slotting allowances on the grounds that their net profit margins in selling groceries are minuscule (typically _____ percent) and that slotting allowances enable them to earn returns comparable to those earned by manufacturers. B) Retailers usually pass along to consumers the discounts they receive from manufacturers. 2. This year, Tim’s employer establishes a cafeteria plan under which Tim signed a salary reduction of $2,500 for which $1,500 is to cover his health insurance premiums and $1,000 is available to reimburse medical expenses. post misleading or false statements regarding the share price and performance. Which one of the following statements is false about Ho Chi Minh? Definition of Allowance Method The allowance method usually refers to one of the two ways for reporting bad debts expense that results from a company selling goods or services on credit. Most manufacturers rate the value of trade allowances as fair or poor. University of Houston, Clear Lake • MKTG 4332, University of Houston, Clear Lake • MKTG 3331, University of Houston, Clear Lake • MKTG 3343, University of Houston, Clear Lake • MKTG 5031, University of Houston, Clear Lake • MGMT 3031, University of Houston, Clear Lake • MKTG 5332, University of Houston, Clear Lake • MRKT 5031. Which of the following organizations enforce laws against false advertising? 10. immediately prior to the 1st day of September, 1979, shall, for so long as he ... containing a false statement to such authority, knowing the same to be false ; or 28. 23. 39. emphasis on short-term results in corporate-reward structures. Which one of the following best describes the auditor's responsibilities regarding appropriate authorizations in the sales/collections cycle? General Mills periodically offers a deal to the trade that permits retailers to deduct 15 percent from the invoice merely by. A reason for the growth of sales promotion is _____. _____ is a form of pricing whereby a manufacturer charges the same price for a particular brand day in and day out. Dayton's Department Stores featured a manufacturer's brand in their advertisements. Start with the capital allowances figure given above and indicate by the use of zero (0) any items referred to in query 3 which do not require adjustment. Which of the following is true regarding forward buying? 5) Identify the objective of trade promotions. I have read and understand the above terms. Which of the following is a form of trade allowance? Which one of the following statements is false about Ho Chi Minh? The single most important action we can all take is … Which of the following is false regarding trade secret protection? to the YA 2019); or A company's client list may be considered a trade secret. Include the following: no as you go auto insurance offerings and upgrades of projects Of the trade is placed, you just stop insuring the truck In the state of colorado, including colorado state university bachlor of business administration A low premium and a brief overview of the car covered Westcott 6 westfield 8 westhead 1 westleton 2. 32. For the most part, this property consists of machinery and equipment used in manufacturing, mining, transportation, Aunt Marie's is a local restaurant. One difference is the way the two policies distribute the cost of reducing pollution. c. An objective is to increase purchases of the manufacturer's brand by wholesalers and/or retailers. The trade part is a market for companies to buy and sell allowances that let them emit only a certain amount, as supply and demand set the price. A customer may give a note to a business for an amount due on an account receivable or for the sale of a large item such as a refrigerator. I have read and understand the above terms. An objective is to increase purchases of the manufacturer's brand by wholesalers and/or retailers. The maternity allowance referred to in section 37(2) and accruing in each wage period under the contract of service of the female employee shall be paid in the same manner as if such allowance were wages earned during such wage period as provided in section 19. For brands holding larger market shares, the deal-elasticity coefficient generally is _____ it is for smaller-share brands. Competitors may discover secrets by going on public tours of plants and observing the use of the trade secret. 12. Voluntary purchasers can offset their carbon emissions by purchasing carbon allowances from legally mandated cap-and-trade programs such as the Regional Greenhouse Gas Initiative or the European Emissions Trading Scheme. Those sales promotions used as a form of price discount must now be treated as reductions in sales revenues. RDA is statistically defined as two standered deviations (SD) above estimated average requirement (EAR) [B]. RDA is defined as being equal to the estimated average requirement(EAR) [C]. 1. A manufacturer's customized loyalty program using a retailer's shopper database is an example of _____. Trade increases competition. Writing-down allowances are annual allowances that a business can claim to reduce or 'write down' any remaining balance of capital expenditure on plant and machinery that the business has not already claimed a capital allowance for, referred to as a 'pool' of 'unrelieved' expenditure. Sales Returns and Allowances. and/or a need for stimulation and variety. 6) Which of the following statements is true about channel-originated promotion? The allowance method provides in advance for uncollectible accounts think of as setting aside money in a reserve account. D. Financial statement. The following allowances are to … 33. Dayton's would have received a(n) _____ from the manufacturer. A trade-in allowance is an effective way to lower the price a buyer has to pay without formally reducing the list price. b. Discounts and allowances are reductions to a basic price of goods or services.. retailers usually pass along to consumers the discounts they receive from manufacturers C. It had most of the German states as members. a. You must stay at home. C. It had most of the German states as members. B. Manufacturers experience reduced margins. Carbon retirement involves retiring allowances from emission trading schemes as a method for offsetting carbon emissions. 4. Summary: what you can and cannot do during the national lockdown. Retailers usually pass along to consumers the discounts they receive from manufacturers. B. Which of the following is FALSE regarding trade allowances? A discount or trade allowance is when there are price reductions, or allowances of any kind, whether stated or unstated. Dayton's Department Stores featured a manufacturer's brand in their advertisements. C) An objective is to increase purchases of the manufacturer's brand by wholesalers and/or retailers. What is the difference between the "old" and "new" accounting procedures with respect to promotion? 21. Topic: Trade-In Allowance 354. Notes receivable . Which of the following statements is true regarding trade in agriculture? Trading gives companies a strong incentive to save money by cutting emissions in the most cost-effective ways. Retailers usually pass along to consumers the discounts they receive from manufacturers. Which of the following channel member benefits the least from a scan-verified trade promotion? Which of the following is FALSE regarding trade allowances? Trial balance. Learn faster with spaced repetition. Calculate the amendments required from your colleague's query regarding the capital allowances. Which of the following statements about recommended dietary allowances (RDA) is true – [A]. Deals offered periodically to the trade that permit retailers to deduct a fixed amount from the invoice are called _____. Scarcity could be eliminated if all economies of the world would work together to solve world hunger. a. The following two situations are envisaged, namely — A travel allowance given to an employee to finance transport (for example, a set rate A reimbursement given to an employee based on actual business travel. 41. (p. 280) Which of the following statements regarding trade-in allowance is most accurate? But, regardless of how the customer paid, one thing remains the same: you need to update your Sales Returns and Allowances account. a) The United States exports almost 50 percent of its agriculture production. 36. retailers usually pass along to consumers the discounts they receive from manufacturers 11. (The other way is the direct write-off method.) The Allowance for Doubtful Accounts is closed at the end of the fiscal year. This practice is known as _____. This preview shows page 6 - 8 out of 8 pages. If instead, the allowance for uncollectible accounts began with a balance of $10,000 in June, we would make the following adjusting entry instead: $50,000 – $10,000 = $40,000 (adjusting entry) Payment of allowance to nominee on death or female employee a. OR. General Mills periodically offers a deal to the trade that permits retailers to deduct 15 percent from the invoice merely by placing an order during the period which General Mills is "dealing" a brand. The definition of variable remuneration was extended to include any amount paid or granted in reimbursement of any expenditure. BuyRight informs Lippincott that in order to justify the cost of adding a new, product line to its shelves, it will have to charge Lippincott $250 for every store in the BuyRight chain that stocks Lippincott’s new. Regarding accounts receivable and an allowance for uncollectible accounts, which of the following statements is false? A $100 allowance requires the same entry. a. e. Most retailers think that trade promotions should serve to increase sales and profits of entire product categories without concern for whether a manufacturer’s specific brand benefits from the trade promotion. C.Balance sheet. Which of the following are legitimate costs of doing business for a large, multistore supermarket chain that takes on a new brand? One objective is to increase consumer retail sales of the manufacturer's brand. 2. 4) Which of the following statements is true about customer promotion? Answer: It comes directly to the customer from the manufacturer. B. Price-offs have a positive effect on profit. Which of the following statements regarding efficiency gains from local competition is false? A note (also called a promissory note) is an unconditional written promise by a borrower to pay a definite sum of money to the lender (payee) on demand or on a specific date and usually include a required interest amount. D.Cost of goods sold. 8. Supershop, a 450-store supermarket chain, just ordered 90,000 cases of a new product from Smyrl Company, a relatively unknown regional manufacturer. 47. Trading gives companies a strong incentive to save money by cutting emissions in the most cost-effective ways. How to use allowance in a sentence. 34. Scanning agents perform which of the following functions? 43. The following allowances are nontaxable and should not be included on your Form W-2, whether paid by the U.S. government or the foreign country in which you are stationed: Travel allowances and; Living allowances for housing, utilities, food, clothing, and household supplies. Answer: Giving the intermediaries incentives to carry and sell the product. Competitors may not discover trade secrets by doing reverse engineering. One difference is the way the two policies distribute the cost of reducing pollution. B. Trade-ins are an effective way to lower the price a buyer has to pay without formally reducing the list price. Which of the following is FALSE regarding trade allowances? Competitors may discover secrets by going on public tours of plants and observing the use of the trade secret. Most retailers think that trade promotions should serve to increase sales and profits of entire product categories.