____________________ is a rise in the general level of prices in the economy and results in a decrease in purchasing power
Fill in the blank(s) with correct word
Inflation
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Crystal, Inc issued $41,000,000 of bonds. Assuming the most common denomination of bonds, the number of bonds sold was
a. 41,000. b. 410,000. c. 4,100,000. d. 41,000,000.
If a prior-period error only affects the balance sheet, the company should
A) discuss the error in the notes to the financial statements only. B) restate the balance sheet from the prior year if it shows comparative financial statements. C) make a correcting journal entry and restate the balance sheet for the prior year. D) discuss the error in the notes to the financial statements and restate the balance sheet from the prior year.
Charlene, Derwood, and Elwyn form a partnership. They make no express agreement concerning how profits are to be divided. Of the $30,000 initial capital of the firm, Charlene and Derwood each contributed $12,000. Elwyn contributed $6,000. The partnership had a profit of $15,000 during the first year of operation of the business. Given this information, Derwood's share of the profit will be ________.
A. $10,000 B. $6,000 C. $5,000 D. $12,000
International strategy helps firms to make choices about how to deploy scarce resources to achieve their international objectives.
Answer the following statement true (T) or false (F)