Marketable securities are only those security investments the firm can convert into cash balances
within one year.
Indicate whether the statement is true or false
FALSE
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When examining whether a company has underrecorded accounts payable, all of the following ratios are helpful EXCEPT:
a. Quick assets ÷ Current liabilities b. Accounts payable ÷ Purchases c. Accounts payable ÷ Cost of goods sold d. Unearned revenue ÷ Accounts payable
When preparing consolidated financial statements, the result of the elimination process generally is the
a. restatement of the cash balance of each company due to intercompany transactions. b. presentation of only the transactions between the consolidated entity and others outside the entity. c. replacement of the investment account and the subsidiary's shareholders' equity with only the parent's share of the individual assets and liabilities of the subsidiary. d. posting the eliminations to both parent and subsidiary's accounts. e. posting the eliminations to the subsidiary's accounts, only.
The General Agreement on Tariffs and Trade is today the most important instrument for regulating international trade
Indicate whether the statement is true or false
Social capital has downsides. Which of the following is a downside?
A. Individuals may be more willing to collaborate on joint projects. B. Management commitment is easy to obtain. C. Socialization processes are inexpensive. D. High social capital may breed groupthink.