Errors are also called residuals
Indicate whether the statement is true or false
TRUE
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Which of the following is a one of the seven challenges a manager must deal with in the 21st century?
A. sustainability B. ethical standards C. economic stagnation D. globalization E. diversity
Which one of the following types of inventory accounts would be used by a wholesaler or retailer?
a. Raw materials inventory b. Work in process inventory c. Finished goods inventory d. Merchandise inventory
Jurisdiction-specific corporate laws limit directors' freedom to declare dividends. Which of the following is/are true?
a. The board may not declare dividends "out of capital," that is, debited against the contributed capital accounts, which result from fund-raising transactions with owners. b. The board must declare them "out of earnings" by debiting them against the Retained Earnings account, which results from earnings transactions. c. "Capital" may mean the par or stated value of outstanding common shares or the total amount paid in by shareholders. d. Some jurisdictions allow corporations to declare dividends out of the earnings of the current period even if the Retained Earnings account has a debit (negative) balance because of accumulated losses from previous period. e. all of the above
A good model should achieve the right balance between being too simple and too complex
a. True b. False Indicate whether the statement is true or false