QUESTION 7 Which of the following in NOT a key element of a successful business?
Good products
Customers who want the goods and services
A manager with a business degree
O Willingness to take risk
OIICOTINIO

Terry, a self-employed laboratory consultant specializing in white mice, attended a convention in paris concerning the care and feeding of white mice. the convention was held in paris since most of the white mice specialists in the world are located in france. terry's expenses were $1,600 for airfare, $400 for food, and $400 for lodging. terry spent 5 days at the convention and 3 days visiting friends. how much can she deduct for the trip?

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.