Which of the following business environments includes the customers, mores, values and demographic characteristics of the society where the organization functions?
a. Sociocultural
b. Economical
c. Political-Legal
d. Domestic
e. Demand
a. Sociocultural
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Investments in trading securities are accounted for using the equity method with consolidation.
Answer the following statement true (T) or false (F)
Ending inventory for 2012 is overstated by $5,500 due to a faulty count and costing. The tax rate is 39%. Assume the same accounting methods for both financial reporting and taxes. The error is discovered late in 2014 . The 2014 annual report shows the financial statements for 2012 . 2013 . 2014 on a comparative basis. Which of the following is correct regarding the reporting of this error in the
2014 annual report? a. A journal entry is made to report the prior period adjustment, and the 2012 and 2013 statements are shown corrected. b. No journal entry is needed, and the 2012 and 2013 statements are shown as they were in the 2013 annual report. c. No journal entry is needed, and the 2012 and 2013 statements are shown corrected. d. A journal entry is made to report the prior period adjustment, and the 2012 and 2013 statements are shown as they were in the 2013 annual report.
The decision theory processes of maximizing expected monetary value (EMV) and minimizing expected opportunity loss (EOL) should lead us to choose the same alternatives
Indicate whether the statement is true or false
If goods are so nonconforming that the buyer has the right to reject them, the risk of loss does not pass to the buyer until cure or acceptance.
Answer the following statement true (T) or false (F)