If Congress passes a law regulating business in a certain manner, states may then pass laws that duplicate the effect of the regulation
a. True
b. False
Indicate whether the statement is true or false
False
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Accruals are needed when an unrecorded expense has been incurred or an unrecorded revenue has been earned
Indicate whether the statement is true or false
Which of the following statements regarding financial analysis is true?
a. Financial analysis should be performed by only managers and creditors. b. Financial analysis will show how a company is guaranteed to perform in the future. c. Financial analysis should not be relied upon as an indicator of future performance. d. Financial analysis provides supplemental information not provided directly by the financial statements.
Wills need not be drafted by attorneys
a. True b. False
One big advantage of lean systems is that they can usually be put in place without any major changes to existing layouts
Indicate whether the statement is true or false