Which of the following methods considers the percentage of completion of beginning work-in-process?
A) FIFO
B) weighted average
C) both weighted average and FIFO
D) neither FIFO or weighted average
A
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A joint venture can add significant potential liabilities to the parent company that are not on the face of the balance sheet
Indicate whether the statement is true or false
Stage Technologies is a London-based company that supplies engineering solutions for the entertainment industry. It has helped the boy-band Westlife make a flying entrance onto stage and provided stage-rigging packages for Princess Cruise's vessels. The company was established in 1994 after a couple of production designers decided that the automation of theater productions could be done more safely and more efficiently by using modular production rather than the old "build-as-needed" formula. The company installs winches, stage lifts, and other equipment commonly used in stage productions. The equipment is designed so it can be operated from a single console without awkward or heavy lifting. Both opera companies and theaters see the benefit of such a system, but many are reluctant to buy
because of perceived costs. John Hastie and Mark Ager, the company's best salespeople, must design sales presentations that address these concerns.What types of sales presentations would Hastie and Ager most likely use for new customers? A. Need-fulfillment and need-development B. Persuasive selling and need-satisfaction C. Memorized and need-fulfillment D. Need-satisfaction and problem-solution E. Formula and problem-solution
Information that is material means that an error in recording the dollar amount of a transaction would:
A) likely affect the judgment of someone relying on the financial statements. B) not affect the decisions of financial statement users. C) not impact a business decision of a creditor. D) result in the overstatement of assets or income.
The stated purpose(s) of Article 2 of the UCC is/are:
a. to simplify the law governing sales. b. to permit the continued development of business practices through custom and usage. c. to make the laws governing sales uniform among the various states. d. All of the above are correct.