Answer the following statements true (T) or false (F)
Accounting standards for intercorporate equity investments represent the most extensive application of flexible uniformity in accounting practice.
ANSWER: F
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The normal balance is a debit in a
a. liability account; b. revenue account; c. debt account; d. capital account; e. drawing account.
Shareholders can ensure that firms pursue goals that are in their best interest by _____.?
A. ?binding the management with stockholder-sponsored proposals B. ?ensuring that management is working towards maximizing current earnings C. ?compensating managers on the basis of the firm's best performance in the last five years D. ?actively implementing remedies to realign management decisions with the interests of investors E. ?providing incentives to managers to motivate them to take actions that maximize stock prices
One assumption about learning curves is that the reduction in time will increase as output increases
Indicate whether the statement is true or false
Courts will allow recovery based on an illegal agreement when
a. the parties to the agreement are not equally at fault. b. both parties are in pari delicto. c. a tort is not involved. d. there is not more than one illegal clause.