The following information was taken from the operating activity section of the 2014 statement of cash flows for Limited Corp: Additions to net income: Change in accounts payable $2,000 Deductions from net income: Change in inventories 8,000 Based on the information provided, which one of the following conclusions is correct?
a. Accounts payable decreased $2,000 in 2014.
b. Inventories increased $8,000 in 2014.
c. The direct method was used to prepare the operating section of the cash flow statement.
d. Cash payments of merchandise exceeded cost of goods sold by $2,000.
b
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A company gives a two-year warranty for its product. The estimated liability for product warranties is a current liability
a. True b. False Indicate whether the statement is true or false
Bond issue costs have the effect of
a. decreasing a bond discount. b. increasing a bond premium. c. decreasing the effective interest rate. d. decreasing a bond premium.
Products that have a place in our everyday conversations are commonly known as
A) artifacts. B) brands. C) core competencies. D) collections. E) perceptual frames.
An organization’s ___________ is a description of how the organization intends to compete or provide value to its customers.
What will be an ideal response?