The mean and variance of a chi-square distribution with ? degrees of freedom is determined by the number of degrees of freedom
Indicate whether the statement is true or false
TRUE
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At the year end inventory count, if goods in transit are shipped FOB shipping point, they should be included in the inventory count of
a. The seller b. The buyer c. Both the seller and the buyer d. Neither the seller no the buyer
The first section of the statement of cash flows derives cash flow from operations. Both U.S. GAAP and IFRS permit firms to report cash flow from operations using the __________
a. direct method, only b. indirect method, only c. direct and indirect methods d. adjustment method, only e. income method, only
In the context of the statement of retained earnings, any change in retained earnings is found by subtracting:
A. cash flows from operating activities from cash flows from investing activities. B. the value of capital expenditures, such as remodeling, from net income. C. operating expenses from gross profit. D. dividends paid to shareholders from net income.
Denny Crane was an agent for Mutual of Florida Insurance, but his agency contract was recently revoked. One of his clients, Shirley Schmidt, has not yet been informed that he no longer represents Mutual of Florida
She drops by his office to deliver a premium payment, which he accepts and deposits into his own account. When Mutual of Florida does not receive Shirley Schmidt's premium, it sends her a cancellation notice. Before receiving her cancellation notice, she suffers a loss and expects Mutual of Florida to pay her claim. What will likely happen in this scenario? A) Mutual of Florida will likely have to pay the claim. B) Mutual of Florida will not have to pay the claim, but Denny Crane likely will. C) Neither Mutual of Florida, nor Denny Crane, will have to pay the claim. D) The claim will be paid by the court, and it will then sue Mutual of Florida.