New technology, like the latest cell phones and HDTV, would probably be costed using the:
A) LIFO method of inventory costing.
B) FIFO method of inventory costing.
C) moving average method of inventory costing.
D) any method as the physical flow and the cost flow are different.
D) any method as the physical flow and the cost flow are different.
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Harper Company lends Hewell Company $40,000 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financial statements on March 31. What adjusting entry Harper should make before the financial statements can be prepared?
A) Cash 200Interest Revenue 200 B) Interest Receivable 800Interest Revenue 800 C) Interest Receivable 200Interest Revenue 200 D) Note Receivable 40,000Cash 40,000
The obligation of a company's directors to manage the corporation for the best interest of the __________ is recognized as the primary obligation of directors of a corporation
a. corporation b. officers c. employees d. community
All of the following statements are true EXCEPT:
A) deferred income taxes can be thought of as a liability. B) deferred income taxes arise because firms are allowed to keep two sets of financial statements; one for shareholders and one for the IRS. C) deferred income taxes arise because firms are allowed to keep two sets of financial statements; one for the shareholders and one for internal management. D) deferred income taxes are also referred to as deferred tax liabilities.
Which of the following is true regarding our macro-marketing system?
A. Marketing tries to satisfy "unwanted demand" rather than genuine wants. B. Satisfying consumer needs and wants is a dynamic, on-going process. C. Advertising generally raises prices and wastes resources. D. Marketing makes people materialistic by creating "false values." E. None of these answers is correct.