The Statement That Is True Concerning the IPod Is That

question 83

Multiple Choice

The statement that is true concerning the iPod is that:

• A) Apple manufactures it
• B) for each $299 iPod sold, Apple makes about $8
• C) about 90% of the $299 retail price is retained by U.S. firms
• D) the final assembly of the iPod in China contributed to more than 50% of its value
• E) more than half of the retail price goes toward retailing, marketing, distribution, and Apple's revenues.

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Definitions:

Payroll Register

A multicolumn form that is used to record payroll data.

Journal Entries

The recording of financial transactions and events in the books of accounts, in chronological order, detailing the financial effects of business transactions and events.

Payroll Tax Expense

Taxes that are levied on an employer based on the wages and salaries paid to employees.

FICA-OASDI

Refers to the Social Security portion of the Federal Insurance Contributions Act tax, funding Social Security retirement, disability, and survivor benefits.