The balance theory perspective involves relations among three elements (a triad). Which of the following is one of the elements of the triad?
A) A person and his or her perceptions
B) The marketer and its strategy of image building
C) A person's beliefs
D) Subconscious motives
A
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Answer the following statements true (T) or false (F)
1. Total manufacturing costs to account for during the year minus the ending Work-in-Process Inventory equals the cost of goods manufactured. 2. The following format represents the flow of costs for all three manufacturing inventory accounts: Beginning balance + Additions - Ending balance = Amount used, manufactured, or sold 3. A manufacturer produced 7,500 total units. The cost of goods manufactured is $88,000 and the cost of goods sold is $71,000. The unit product cost is $9.47. 4. Unit product costs can be used to measure operating income and determine the cost of Finished Goods Inventory. 5. Unlike merchandising companies, income statements of service companies include cost of goods sold as a line item.
In emerging industries:
A. environmental factors do not affect customer demand. B. entrepreneurs confront demand certainty. C. it is easier to respond effectively to sudden changes. D. environmental changes are highly likely.
Which of the following statements regarding the analysis of absolute amounts of various accounts reported on the financial statements is incorrect?
A. To correctly evaluate an absolute amount, the analyst must consider its relative importance. B. Economic statistics such as the gross national product are built upon totals of absolute amounts reported by businesses. C. Using absolute amounts eliminates the problem of varying materiality levels. D. Financial statement users with expertise in particular industries can look at absolute amounts and assess a company's performance in a certain area.
Under an indemnity contract, one person pays another consideration in return for a promise to pay a specified sum of money in the event that a specified loss is suffered
Indicate whether the statement is true or false