________ Require Only That Participants Submit Their Names to Be

question 15

Multiple Choice

________ require only that participants submit their names to be included in a one-shot drawing or other chance selection.

• A) Sweepstakes
• B) Rebates
• C) Contests
• D) Premiums
• E) Specialties

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Definitions:

Selling Expenses

Costs incurred directly and indirectly from selling a product or service, including advertising, salaries for sales staff, and distribution expenses.

Inventory Expenses

Costs associated with ordering, storing, and managing inventory, including but not limited to purchase costs, storage fees, and losses due to shrinkage.

Selling Expense

Costs incurred directly and indirectly in making sales; these can include advertising, sales staff salaries, and commissions.

Periodic Inventory Method

An accounting method that updates inventory and cost of goods sold figures at the end of an accounting period, not at each sale.