If a company overstates its ending inventory for the current year, what are the effects on cost of goods sold and net income for the current year? Effect on Cost of Goods Sold Effect on Net Income
a. Understated Overstated
b. Overstated No effect
c. Understated Understated
d. Overstated Overstated
a
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Americans are currently living longer now than in the past because of advances in medicine. As a result, the sale of products that meet the needs of older individuals, such as devices that assist in walking and movement, have increased. In the context of an industry's macroenvironment, age is considered which type of force?
A. Technological B. Demographic C. Social D. Political E. Legal
Employers are allowed to fill economic strikers' jobs while the strike is taking place, and if permanent replacements are hired, strikers are not entitled to return to their jobs
Indicate whether the statement is true or false
What is the effect on liability of a limited partner who participates in the management of the partnership? What activities may a limited partner perform without affecting liability?
Businesses record goodwill ________
A) when they enjoy an outstanding reputation and loyalty with customers B) if they acquire another company at an amount higher than the market value of its net assets C) when they continue the business of an acquired corporation D) if their market value has increased significantly in the recent years