Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error?
A) net income is understated
B) net income is overstated
C) cost of merchandise sold is understated
D) merchandise inventory reported on the balance sheet is overstated
A
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Burke Company has a break-even of $600,000 in total sales. Assuming the company sells its product for $50 per unit, what is its margin of safety in units if sales total $850,000?
A. 17,000 units B. 250,000 units C. 5,000 units D. 12,000 units
The single most visible factor that distinguishes successful culture-change efforts from failed attempts is
A. developing a new value statement that inspires company personnel to put forth their best efforts to achieve performance targets. B. competent leadership at the top. C. de-layering the management hierarchy. D. forceful management actions to empower employees to adopt new operating practices. E. convincing employees that top management is genuinely committed to high ethical standards and the exercise of corporate social responsibility.
As the replenishment lead time from a supplier grows, the amount of safety inventory that needs to be held by the buyer also grows in direct proportion to the replenishment lead time
Indicate whether the statement is true or false.
Voir dire is a process for presenting evidence in a case.
Answer the following statement true (T) or false (F)