An overstatement of ending inventory will cause an overstatement of assets and an understatement of equity on the balance sheet.
Answer the following statement true (T) or false (F)
False
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Which of the following statements is true of the production concept?
A) It considers customer focus and value to be the paths to sales and profits. B) It follows the customer-centered sense-and-respond philosophy. C) It takes an outside-in perspective. D) It calls for sustainable marketing. E) It leads to companies focusing too narrowly on their own operations.
On March 2, 2014, Burton Corporation issued 4,000 shares of 6 percent cumulative $100 par value preferred stock for $434,000 . Each preferred share carried one nondetachable stock warrant which entitled the holder to acquire, at $17, one share of Burton $10 par common stock. On March 2, 2014, the market price of the preferred stock (without warrants) was $90 per share and the market price of the
stock warrants was $15 per warrant. The amount credited to Paid-In Capital in Excess of Par-Preferred by Burton on the issuance of the stock was a. $0. b. $8,000. c. $34,000. d. $62,000.
Which of the following is NOT true about buying cars?
a. To prevent excessive haggling, do not mention a trade-in vehicle until you have focused on the cost or you are asked. b. Price bargaining is still the preferred method of many buyers. c. The closer your final drive-out price is to the dealer’s cost, the better the deal you have negotiated. d. A growing number of new car dealers use no bargaining sales techniques. e. Promptly answer the sales technique question: “How much do you want to pay?”
The government can recover the cost to clean up a hazardous waste disposal site from the persons who were even remotely responsible.
Answer the following statement true (T) or false (F)