Which section includes income derived from a firm's primary business activities as well as from activities peripherally related to operations? (Assume the firm expects these sources of earnings to continue.)
a. income from continuing operations
b. income, gains, and losses from discontinued operations
c. extraordinary gains and losses
d. retained earnings
e. paid-in-capital
A
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Reconciling the physical asset inventory with the property ledger on a periodic basis is a control related to which management assertion?
a. Completeness. b. Rights and Obligations. c. Existence. d. Valuation
Efficient inventory management relies on cost maximization stratagies
Indicate whether the statement is true or false
Logically, a paragraph should
A) cover a single topic. B) connect the previous paragraph to the topic sentence. C) be divided into simple and compound sentences. D) use parallel structure for coherence. E) contain no fewer than 25 characters.
In capital budgeting, risk is the degree of variability of cash flows
Indicate whether the statement is true or false