Adjusting entries must be made prior to the preparation of financial statements.
Answer the following statement true (T) or false (F)
True
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Which of the following questions about a proposed action is NOT a key question in Bagley's ethical decision tree?
A. Is it legal? B. Does it maximize shareholder value? C. Is it ethical? D. Would it be ethical not to do it? E. Should the effect of it be disclosed to shareholders?
Money bought and sold as a commodity is included in the definition of goods
Indicate whether the statement is true or false
Schickel Inc. regularly uses material B39U and currently has in stock 456 liters of the material for which it paid $2618 several weeks ago. If this were to be sold as is on the open market as surplus material, it would fetch $5.20 per liter. New stocks of the material can be purchased on the open market for $5.80 per liter, but it must be purchased in lots of 1000 liters. You have been asked to determine the relevant cost of 750 liters of the material to be used in a job for a customer. The relevant cost of the 750 liters of material B39U is:
A. $3900 B. $4350 C. $4078 D. $5800
If A and B are mutually exclusive events with P(A) = 0.3 and P(B) = 0.5, then P(A ? B) =
a. 0.00. b. 0.15. c. 0.80. d. 0.20.