Strict liability was used as a standard by courts before caveat emptor was used
a. True
b. False
Indicate whether the statement is true or false
False
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Under securitization, a company sells its receivables in batches at a discount
Indicate whether the statement is true or false
Which of the following is an element of authentic leadership?
A. others focused B. external moral perspective C. relational transparency D. internalized processing
Under IFRS, Wheaton recognizes
a. no impairment loss. b. an impairment loss of $17.8 million. c. an impairment loss of $19.0 million. d. an impairment loss of $18.7 million. e. an impairment loss of $30.0 million.
At the current year-end, Ruiz Company found that its overhead was underapplied by $2,500, and this amount was not considered material. Based on this information, Ruiz should:
A. do nothing about the $2,500, since it is not material, and it is likely that overhead will be overapplied by the same amount next year. B. close the $2,500 to Cost of Goods Sold. C. carry the $2,500 to the next period. D. close the $2,500 to Finished Goods Inventory. E. carry the $2,500 to the income statement as "Other Expense".