Independent contractors, hired by principals, are liable for their torts committed while acting
within the scope of their authority.
Indicate whether the statement is true or false
TRUE
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The private sector group with authority to set accounting standards is the __________________________________________________
Fill in the blank(s) with correct word
Spatial maps are computed in such a way that the fit increases as the number of dimensions decreases
Indicate whether the statement is true or false
Clay Inc. has two divisions, Myrtle and Laurel. Following is the income statement for the previous year: Myrtle Laurel TotalSales$560,000 $336,000 $896,000Variable Costs 176,000 174,000 350,000Contribution Margin 384,000 162,000 546,000Fixed Costs (allocated) 284,375 170,625 455,000Profit Margin$99,625 $(8,625) $91,000What would Clay's profit margin be if the Laurel division was dropped and all fixed costs are unavoidable?
A. $384,000 profit B. $99,625 profit C. $91,000 profit D. $71,000 loss
Significant changes in stockholders' equity are reported in
A) income statement B) retained earnings statement C) statement of stockholders' equity D) statement of cash flows