Which of the following principals require an exchange transaction to be reported as significant noncash transaction either in a separate schedule or in a footnote to the financial statements?
a. Conservatism
b. Economic entity
c. Matching
d. Full disclosure
d
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The NMC of any proposed strategy must be lower than the current NMC in order to increase a business's net profit
Indicate whether the statement is true or false
[APPENDIX] When the owner of a sole proprietorship withdraws assets from the business for personal use
a. it is treated like a noncash dividend. b. it is illegal because the assets belong to the separate entity, the proprietorship. c. it would be recorded as a loss by the proprietorship. d. it is recorded as a reduction of owner's equity.
Vegan restaurants are a good example of which strategy?
a. low-price provider b. differentiation c. market-niche d. brand image
Zelda realizes that writing a solicitation for a charity project to a small business owner must be different than a request to a representative from a major corporation. Which audience characteristic is Zelda most apt to be considering?
a. age b. economic level c. educational background d. culture