Mean absolute deviation (MAD), mean square error (MSE), and mean absolute percentage error (MAPE) forecast error metrics generally giving similar numerical results so it does not matter which one is used
Indicate whether the statement is true or false
F
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A(n) ____________________ is a written agreement specifying that if the borrower does not repay a debt, the lender has the right to take over specific property to satisfy the debt
Fill in the blank(s) with correct word
A credit memorandum appeared on Central Company's bank statement. How will Central treat this amount on its bank reconciliation?
a. Add it to the bank balance b. Add it to the book balance c. Deduct from the bank balance d. Deduct from the book balance
When employees exercise share options, the company records the gross proceeds received from the employees exercising options as cash inflows from investing activities
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1) Lower-of-cost-or-market (LCM) requires that merchandise inventory be reported in the financial statements at the lower of the historical cost or the current selling price of the inventory. 2) If the historical cost of inventory is less than its current replacement cost, the business must adjust the inventory value. 3) In computing the lower-of-cost-or-market, current replacement cost is the cost to replace the inventory on hand. 4) In computing the lower-of-cost-or-market, market value generally means the selling price. 5) In computing the lower-of-cost-or-market, under IFRS, the market value is defined as the net realizable value, which is essentially the sales price.