An innocent party does not need to suffer an injury to collect damages as a result of a misrepresentation
Indicate whether the statement is true or false
False
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Which of the following would be considered a revenue expenditure?
A) Purchase of a microcomputer B) Installation of a heating system C) Addition of a building wing D) Replacement of a truck's battery
Corporations sometimes distribute assets other than cash when paying a dividend. Which of the following is not true?
a. Such a dividend is known as a dividend in kind. b. Such a dividend is never known as a property dividend. c. The amount debited to Retained Earnings equals the fair value of the assets distributed. d. When this fair value differs from the carrying value of the assets distributed, the firm recognizes a gain or loss in net income. e. The accounting for property dividends resembles that for cash dividends, except that when the firm pays the dividend, it credits the asset given up, rather than Cash.
When making a decision, which of the following should not be considered?
A) Relevant costs B) Opportunity costs C) Sunk costs D) Risk
A cell phone manufacturer inspects the video display on each color phone to verify that the screen can display all colors with the brilliance their customers have come to expect
Each phone is turned on, run through a self-test procedure, and classified as either acceptable or unacceptable based on test performance. Based on historical data, the manufacturer produces 0.1 percent defective displays. If they inspect 5000 phones each day for the next 10 days, what are the upper and lower control limits for their control chart if their sample mean mirrors their historical process average? A) 0.0002, 0.0001 B) 0.0142, 0.0058 C) 0.1127, 0.0873 D) 0.0023, 0.0000