Under the perpetual inventory system, inventory losses can be identified more easily than under the periodic inventory system
Indicate whether the statement is true or false
True
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Usury laws are designed to protect consumers from
a. obtaining loans to gamble on credit. b. taking insurance polices out on the life of another. c. companies charging excess interest on loans. d. professionals practicing a trade without a valid license.
Total fixed costs can change from one relevant range to another
Indicate whether the statement is true or false
Liability policies, such as personal liability, professional malpractice, or business liability insurance, do NOT protect the insured against A) a personal injury on the insured's property, such as the mail carrier who slips and falls on the owner's sidewalk
B) intentional harm caused by the insured. C) claims for property damaged by the insured. D) someone injured by the insured away from home or business.
Pratt Corporation owns 75 percent of Swan Corporation's outstanding common stock. Swan, in turn, owns 15 percent of Pratt's outstanding common stock. What percent of the dividends paid by Pratt is reported as dividends declared in the consolidated retained earnings statement?
A. 75 percent B. 100 percent C. None D. 85 percent