Which of the following describes the purpose of a common size financial statement?
A. Make comparisons between firms of different sizes
B. Make comparisons between different time periods
C. Make comparisons between firms of different sizes and between different time periods
D. Compare the amount of common stock to other types of stock
Answer: C
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Answer the following statements true (T) or false (F)
1) When a company uses the first-in, first-out (FIFO) method, the cost of goods sold represents the cost of the most recently purchased goods and the value of ending inventory represents the cost of the oldest goods in stock. 2) The total cost spent on inventory that was available to be sold during a period is called the cost of goods sold. 3) First Street Merchandisers has total cost of goods sold of $54,500, total beginning inventory of $18,500, and total ending inventory of $22,100. Cost of goods available for sale is $73,000 4) Under the last-in, first-out (LIFO) method, the cost of goods sold is based on the oldest purchases. 5) The last-in, first-out (LIFO) costing system may or may not match the physical flow of goods.
Digital media is also known as broadcast media
Indicate whether the statement is true or false
A disadvantage of newspaper advertising is that it has _____
a. low geographic selectivity and flexibility b. limited color capabilities c. low individual market coverage d. high lead time
"Fruit of a poisonous tree" is a specific intent crime
Indicate whether the statement is true or false