If an inventory account is understated at year end, the effect will be to overstate the
a. net purchases.
b. gross margin.
c. cost of goods available for sale.
d. cost of goods sold.
D
You might also like to view...
Brady knows that the brakes on his car do not work, but he tells Celia, a potential buyer, that there are no problems with the car. On this assurance, Celia buys the car. On learning the truth, she may sue Brady for A) trade libel
B) conversion. C) ?fraudulent misrepresentation. D) no tort.
The NPV of a project with an initial investment of $2,500 that provides after-tax operating cash flows of $500 per year for four years where the firm's cost of capital is 15 percent is $427.49
Indicate whether the statement is true or false
The correlation between two variables is unitless and always between –1 and +1
a. True b. False Indicate whether the statement is true or false
For a population with an unknown distribution, the form of the sampling distribution of the sample mean is
a. approximately normal for small sample sizes. b. exactly normal for large sample sizes. c. exactly normal for small sample sizes. d. approximately normal for large sample sizes.