Prior to the 1700s, ______.
a. there was no way to check quality
b. the only way to check the quality of a product was by consuming the product
c. quality was not an important consideration in manufacturing
d. quality was checked by physically inspecting the product
d. quality was checked by physically inspecting the product
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What theory describes the perception of how fairly we are being treated in comparison with others?
What will be an ideal response?
To determine his company's net profits, Edward should
A. deduct cost of goods sold from sales. B. add interest paid and depreciation expense. C. deduct income taxes from profits before taxes. D. add income taxes paid and income before taxes.
In making the decision to enter the pharmaceutical industry, a company would not need to consider which of the following?
A. historical comparisons B. comparisons with key competitors C. comparisons with industry norms D. comparisons with non-competitors
Accounting principles require that inventory be reported at the market value (cost) of replacing inventory when market value is lower than cost.
Answer the following statement true (T) or false (F)