Case Morgan Is Creating a Newsletter for His Client, MegaGraphics

question 46

Multiple Choice

Case Morgan is creating a newsletter for his client, MegaGraphics. They have sent him several text files to use for content, as well as a sample publication. Which text alignment option should Morgan use to make his publication more formal by neatly lining the text between the side margins?

• A) right-aligned
• B) left-aligned
• C) centered
• D) justified

Comprehend the evaluation of ending inventory under different scenarios.

Apply cost flow assumptions in determining cost of goods sold.

Understand how payment terms and purchase discounts affect journal entries under the gross method.

Recognize the effects of LIFO liquidation on pre-tax income.

---

Definitions:

Duopoly

A market structure characterized by two producers/sellers in competition with each other.

Constant Costs

Costs that remain unchanged regardless of the level of output or activity within a certain range.

Corncob Pipes

Pipes made from the dried cob of a corn plant, often used for smoking tobacco.

Cournot Reaction Function

A mathematical representation in economics that shows how one firm reacts to the quantity choice of another firm in a duopoly market setting.