Concerning FASB membership, which statement is not true?
A) Not all members are CPAs from public practice.
B) All members are full time and fully paid.
C) All members are also members of the Financial Accounting Foundation.
D) All members must sever organizational ties with their previous employer.
C
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The transfer of a held-to-maturity investment in debt securities to either trading securities or securities available-for-sale would call into question the original designation of that investment
Indicate whether the statement is true or false
In a criminal prosecution, the government must prove that the defendant is guilty by the
preponderance of the evidence. Indicate whether the statement is true or false
Zenith Company's Merchandise Inventory account at year-end has a balance of $91,820, but a physical count reveals that only $90,450 of inventory exists. The adjusting entry to record this $1,370 of inventory shrinkage is:
A.
| Inventory shrinkage expense | 1,370 | |
| Cost of goods sold | 1,370 |
B.
| Merchandise inventory | 1,370 | |
| Inventory shrinkage expense | 1,370 |
C.
| Cost of goods sold | 1,370 | |
| Merchandise inventory | 1,370 |
D.
| Cost of goods sold | 90,450 | |
| Merchandise inventory | 90,450 |
E.
| Purchases discounts | 1,370 | |
| Cost of goods sold | 1,370 |
Differentiate between people marketing and place marketing.
What will be an ideal response?