The process of determining the amount of change that must occur in a variable before a different decision would be made is referred to as _________________________________
Fill in the blank(s) with correct word
sensitivity analysis
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Another name for net income of a business is _________________________
Fill in the blank(s) with correct word
Summer, Inc has been in business for 20 years. During that time the company has consistently used the LIFO inventory costing method. Because of inflation, prices for merchandise have increased consistently over the 20 years. The company has maintained the same inventory quantities over the 20-year period. Which one of the following statements is true?
a. Summer, Inc.'s total net income for the past 20 years is greater than it would have reported using another inventory method. b. Summer, Inc. will have paid more income taxes over the past 20 years than it would have if it had used the FIFO method. c. Summer will have to continue using the LIFO method indefinitely because of generally accepted accounting principles and federal income tax rules. d. The ending inventory figure reported on the balance sheet may be significantly lower than its current value.
Discuss how the role of government in the area of economics has been that of an actor and a referee between consumers and the business community
What will be an ideal response?
The Employee Retirement Income Security Act (ERISA) requires employers to establish pension plans for employees
a. True b. False Indicate whether the statement is true or false