Why is the time period assumption required?
a. Inflation exists.
b. External users of financial statements want statements that accurately reflect net income or earnings for a specific time period.
c. The dollar is the monetary unit in the United States.
d. The federal government requires it.
b
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Which shopping orientation has the highest price sensitivity?
a. status-oriented consumers b. personalizing consumers c. economic consumers d. assortment-oriented consumers
Identify the statement below that is correct.
A. Accrued liabilities include accounts receivable. B. An account called Land is commonly used to record increases and decreases in both the land and buildings owned by a business. C. When a future expense is paid in advance, the payment is normally recorded in a liability account called Prepaid Expense. D. Promises of future payment by the customer are called accounts receivable. E. Increases and decreases in cash are always recorded in the common stock account.
Which one of the following actions will decrease the producer's risk?
A) Increase n and keep c constant. B) Decrease n and keep c constant. C) Keep n constant and decrease c. D) Increase n and decrease c.
Government can obtain funds ________
A) by trading in equity market B) by issuing financial instruments such as futures and options C) through forex market D) by selling debt securities