Answer the following statements true (T) or false (F)
The Trueblood Study Group formed the FASB and called for significant changes in the establishment of financial accounting standards.
ANSWER: F
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A nonprobability sampling technique in which an initial group of respondents is selected randomly and subsequent respondents are selected based on the referrals or information provided by the initial respondents is called ________
A) quota sampling B) snowball sampling C) stratified sampling D) cluster sampling E) respondent sampling
A market research bureau semiannually conducts national surveys of more than 25,000 consumers who complete monthly logs detailing their purchases of products
Many companies subscribe to the bureau's report publication to learn of the findings of these surveys. This information can be classified as ________. A) primary data B) secondary data C) mined data D) experimental data E) cross-tabulated data
A company has two different products that are sold in different markets
Financial data are as follows: Product A Product B Total Revenue $16,000 $9,400 $25,400 Variable cost (9,000 ) (9,900 ) (18,900 ) Fixed cost (allocated) (3,000 ) (2,100 ) (5,100 ) Operating income (loss) $4,000 $(2,600 ) $1,400 Assume that fixed costs are all unavoidable and that dropping one product would not impact sales of the other. If Product B is dropped, what would be the impact on total operating income of the company? A) increases by $2,100 B) increases by $500 C) decreases by $2,100 D) decreases by $500
Which of the following statements about shopping for auto insurance is true?
A) Adequate physical damage insurance on your auto is the most important consideration. B) Consideration should be given to dropping liability coverage if you drive an older car with a low market value. C) To obtain the lowest premium, an applicant should review his or her eligibility for all discounts offered. D) Price comparisons are of little value since auto insurers tend to charge the same premiums.