Under new accounting standards passed in 2006 firms must report changes in accounting principle in the current and prior years as if the new accounting principle had been applied all along. The rationale for this change was
a. using the same accounting principle in current and prior periods enhances the information content of reported earnings in forecasting future earnings.
b. conservatism.
c. comparability.
d. materiality.
A
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A licensing requirement, or an unreasonable standard regulating the safety or quality of a product that is imported into a country, is called a
a. nontariff barrier to trade. b. voluntary export restriction. c. protective tariff. d. customs duty.
TLI is an absolute fit index
Indicate whether the statement is true or false
Which of the following describes overall performance at a level of "Does Not Meet Expectations?"
a. The employee has violated several policies and is expected to change his/her behavior or face termination b. The employee is a leader of their team and regularly suggests ways to improve the job c. The employee performs all job-related tasks at the expected level d. The employee completes tasks without supervision
A "chargeback" occurs when
A) a credit card holder is charged interest on past purchases. B) a borrower is charged additional interest for early repayment of a loan. C) a consumer returns previously charged merchandise. D) a card issuer charges a disputed amount back to the merchant.