A seller may offer a sales discount to:
a. increase liquidity.
b. reduce accounts receivable.
c. Both to increase liquidity and to reduce accounts receivable.
d. Neither to increase liquidity nor to reduce accounts receivable.
c
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Lilly Company has been depreciating equipment for 10 years with an estimated total useful life of 25 years. Lilly has revised the estimated life to be only 17 years, with 7 years remaining in the asset's useful life. What is the appropriate action that Lilly should do now?
A) record a change in estimate by recomputing depreciation of prior periods and restating prior period financial results accordingly B) record a change in estimate by recomputing depreciation of prior periods and presenting the net depreciation adjustment as a cumulative effect change in accounting principle in the current period C) continue to depreciate the equipment over the original 25-year life D) depreciate the remaining book value over the remaining 7 years of the asset's useful life
Which of the following comparative scaling techniques has an absolute zero and is sometimes treated as metric?
A) rank order scaling B) constant sum scaling C) paired comparison scaling D) semantic differential scaling E) zero scaling
According to study of financial statement frauds by the Committee of Sponsoring Organizations (COSO), who is the most common perpetrator of financial statement fraud?
a. Chief Executive Officer b. Chief Financial Officer c. Chief Operating Officer d. Finance Controller
An independent grocer who wants to know if cocktail and tartar sauce would sell better if the two products were moved from the salad dressing section of the store to a display next to the seafood selection would most likely use ________ research
A) longitudinal B) exploratory C) latitudinal D) ethnographic E) causal