The issuing bank for a letter of credit is called the correspondent bank
Indicate whether the statement is true or false
FALSE
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The gross profit method of inventory valuation is NOT valid when
a. there is substantial increase in the quantity of inventory during the year. b. there is substantial increase in the cost of inventory during the year. c. the gross margin percentage changes significantly during the year. d. all ending inventory is destroyed by fire before it can be counted.
Explain the accounting for notes and bonds
Answer the following statement(s) true (T) or false (F)
1. An assumption underlying collectivism is that hiring relatives of employees increases the company’s business risk. 2. In masculine societies, assertiveness, ambition, and competitiveness are expected and rewarded in the work context. 3. Intergroup contact theory and research, originally proposed as a “contact hypothesis” by Allport (1954), suggests that intergroup contact typically increases prejudice. 4. In weak uncertainty avoidance societies, people are not driven by an inner urge towards constant activity. 5. Linguistic diversity is strongly related to people’s and nations’ history, heritage, and sense of identity.
Framework helps group members avoid ______, the tendency to conclude discussion prematurely.
a. early concurrence b. premature concurrence c. early agreement d. premature agreement