In vertical analysis, line items on the income statement are generally expressed as a percentage of
A) net income.
B) net sales.
C) cost of goods sold.
D) total assets.
B
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According to the text, the statistical approaches to determining sample size are based on confidence intervals that may involve the estimation of the ________ or ________
A) standard deviation; variance B) variance; mean C) mean; proportion D) proportion; standard deviation E) mode; median
Sellers should know that the less elastic the demand for their product is, the more advantageous it is for them to ________
A) drop the price B) raise the price C) maintain the price D) discontinue the item E) bundle the item with another product
Bailey Co and Spryt Bros. enter into a contract for the manufacture and sale of 400 lawn chairs. If both parties agree that a modification is necessary
a. the surest way to modify the contract is to liquidate it. b. they may not do so without court supervision. c. an agreement to rescind the contract will terminate the contractual rights of Bailey Co. and Spryt Bros. if neither of them had completed their obligations. d. courts will generally not enforce a cancellation and modification of a contract unless one party received inadequate consideration under the original contract.
An incomplete instrument is not negotiable. However, when it is completed, it may become negotiable
a. True b. False Indicate whether the statement is true or false