Helge Autoparts Sells New and Refurbished Auto Parts Exclusively to Auto

question 82

Multiple Choice

Helge Autoparts sells new and refurbished auto parts exclusively to auto dealers.Helge purchases inventory from distributors at trade conventions.Each time Helge makes a purchase,the company records the suppliers name,address,date,specific items purchased,price paid for each,and the total amount spent.Helge later researches the inventory items to set the customer price.The company assigns an inventory number to each item purchased and records the customer price for each item.Helge buys price tags and display supplies from Alwin Incorporated,a company that sells them at all trade conventions.All inventory and supplies purchases are immediately paid for with cash or with checks from a bank account in Helge's name.All cash received from sales are also deposited to the same bank account.Several times a year Helge rents display space at dealer conventions.A deposit is always required,and the entire fee is due the day the convention starts.Helge records the deposit and final payment,along with the convention's name and address,in the same worksheet on which purchases of inventory and supplies are recorded.
Consider Helge's processes regarding the purchasing inventory and supplies,renting display space,and paying for purchased items.A well-designed REA diagram would

• A)reflect minimum cardinalities of 1 for the relationship between Vendor and Cash Disbursement entities.
• B)reflect the same number of 0 and 1 minimum cardinalities.
• C)reflect more maximum cardinalities of M than of 1.
• D)reflect maximum cardinalities of M for the relationship between Inventory and Purchase entities.

Distinguish between the classifications of magnetic materials.

Understand the function and significance of color bands on resistors.

Differentiate between various types of resistors based on their construction and applications.

Identify and describe the characteristics of fixed and variable resistors.

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Definitions:

Total Revenue

The overall amount of money generated by a company from its business activities, before any expenses are subtracted.

Total Expenses

The sum of all costs and expenses incurred by a business during a given period, including operating and non-operating expenses.

Net Income

Net income is the profit a company makes after deducting all its costs and expenses from its total revenue.

Statement of Stockholders' Equity

A financial statement that shows the changes in the value of a company's equity over a specific period.