If the Advertising Self-Regulatory Council rules that a firm's advertisements are not substantiated, then it orders the firm to discontinue the ads. This is very similar to the cease and desist order of the Federal Trade Commission
Indicate whether the statement is true or false
FALSE
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Owen and Jessica own and operate an S corporation. Each is a 50% owner. The business reports the following results: Business revenue$225,000Business expenses 88,000Investment expenses 16,000How do Owen and Jessica report these items for tax purposes?
A. $137,000 income on Schedule E; $88,000 investment expense on Schedule A B. $68,500 income on Schedule E; $8,000 investment expense on Schedule A C. $68,500 income on Schedule E; $16,000 investment expense on Schedule D D. $225,000 income on Schedule E; $16,000 investment expense on Schedule A
How should an efficiency variance that is material in amount be treated at the end of an accounting period?
a. Reported as a deferred charge or credit b. Allocated among work in process inventory, finished goods inventory, and cost of goods sold c. Charged or credited to cost of goods manufactured d. Allocated among cost of goods manufactured, finished goods inventory, and cost of goods sold
Target costing gives managers the ability to control or dictate the costs of a new product at the planning stage of the product's life cycle
Indicate whether the statement is true or false
Marketers use _____________ to identify a group of markets where a single promotional approach can be used.
A. cluster analysis B. estimates combined with expatriate opinions C. retrograde statistical analysis D. trend analysis