The periodicity assumption recognizes that
A) the company may continue indefinitely.
B) all financial statements should cover a fiscal year.
C) some items reported in net income are estimates.
D) the value of an asset may vary from month to month.
C
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The laborers at Lillon Fabrics are paid on a daily-wage basis. When the employee union announces a strike that involves cessation of work, one of the employees, Lina, is hesitant to participate, as it would mean her employer withholding her pay
Which of the following is true of this case? A) Lina must participate in the strike as participation in all union activities is mandatory for the employees. B) Lina need not participate in the strike. C) Lina's employer is obligated to pay her even if she ceases to work and join the strike. D) Lina must find a replacement employee before joining the strike.
If all milk producers in the area agree to set a minimum price for raw milk, this would be an example of:
a. horizontal allocation. b. vertical market restraint. c. horizontal price fixing. d. a tying arrangement.
Ordering costs would include which of the following?
A) Cost from theft B) Transportation cost C) Security cost D) Damage cost
Companies that cultivate cultures of experimentation and curiosity make sure that ________ is not to be avoided at all costs.
A. authority B. risk taking C. failure D. experimentation