Which of the following statements is true of financial accounting?
A) It provides information to investors needed for their investment decisions.
B) It provides forward-looking information needed for managing and delegating operations.
C) It focuses on detailed reports for parts of the company rather than the whole company.
D) It focuses on planning and controlling day-to-day operations.
A
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Which of the following is a fallacy of international trade?
a. Trade is a zero-sum activity. b. Exports increase employment in exporting industries. c. Import restrictions increase employment in import-competing industries. d. Tariffs and quotas reduce trade.
As a branding manager, you have recommended to your board of directors a corporate policy of
umbrella branding. What are the advantages that your company might gain from this? What will be an ideal response?
Intask Corporation uses the FIFO method in its process costing system. Beginning inventory in the mixing department consisted of 6,000 units that were 75% complete with respect to conversion costs. Ending work in process inventory consisted of 5,000 units that were 60% complete with respect to conversion costs. If 12,000 units were transferred to the next processing department during the period, the equivalent units of production for conversion cost would be:
A. 13,000 units B. 10,500 units C. 13,500 units D. 12,500 units
Ricardo borrowed $5,000 from his friend, Lorenzo. Ricardo signed a handwritten note stating, "I promise to pay $5,000 to Lorenzo on or before August 1, 2001, in return for the same amount borrowed from him on May 1, 2001." Under these circumstances, the note is ________.
A. not negotiable because the note states the reason for the debt B. negotiable because it was handwritten C. not negotiable because the note is not payable to bearer or to order D. negotiable because it is a simple contract