Which of the following statements about personal financial statements is true?
a. Estimated sales commissions should not be considered in determining current values.
b. In arriving at valuations for equity securities, the size of the holdings should not be considered in arriving at current values.
c. Tax liability is estimated on the difference between the stated amounts and tax basis amounts of reported assets and liabilities.
d. Current values can be used for assets and liabilities only when historical cost cannot be determined.
c
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A substantive strategy differs from a reliance strategy in that a substantive strategy includes:
A. extra tests of controls. B. increased emphasis on verbal representations from management. C. increased implementation of detailed tests of transactions and balances. D. setting control risk at a minimum level.
________ is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies
A) Niche marketing B) Holistic marketing C) Relationship marketing D) Supply chain marketing E) Demand-centered marketing
An important criterion for evaluating ________ is how often a retail promotion is run when the channel members receive some kind of deal
A) consumer-oriented promotions B) trade promotions C) the impact of advertising D) public relations
______ is the development of new or improved goods or services that are sold to meet customer needs.
A. Product innovation B. Exploratory innovation C. Exploitative innovation D. Process innovation