Fred Received Merchandise on Consignment from Dino

question 36

Multiple Choice

Fred received merchandise on consignment from Dino. As at January 31, Fred included the goods in inventory, but did NOT record the transaction. The effect of this on Fred's financial statements for January 31 would be

• A) net income, current assets, and retained earnings were understated.
• B) net income was correct and current assets were understated.
• C) net income, current assets, and retained earnings were overstated.
• D) net income and current assets were overstated and current liabilities were understated.

Understand and define the key components of a promotional mix.

Identify and explain the various tools used in sales promotion.

Recognize the role and advantages of public relations in marketing.

Learn how to measure the effectiveness of advertising through various metrics.

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Definitions:

Gonads

Sex glands responsible for producing gametes (sperm in males and eggs in females) and sex hormones.

Secondary Sex Characteristics

Physical changes during puberty that are not directly related to reproduction but that indicate the differences between the sexes.

Endocrine System

A communication system that uses hormones to influence mental activity and behavior.

Sexual Development

The process by which individuals reach sexual maturity and develop the physical characteristics of their gender and a sense of their sexual identity and orientation.