The CIA World Factbook cited these numbers for the United States: •The birthrate is 13.66 births per 1,000 of the population.•The average life expectancy for females is 81.17 years. •Approximately 316.7 million persons reside in the United States. Each of these numbers is referred to as a statistic.
Answer the following statement true (T) or false (F)
True
Statistics are numbers used to communicate a piece of information. Each of the statistics provided in this list is a summary of the data for the population as a whole.
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Which pair of accounts has the same set of rules for debit and credit entries?
a. Service Revenue and Rent Expense b. Dividends and Retained Earnings c. Equipment and Salaries Expense d. Accounts Receivable and Accounts Payable
Which of the following is/are true?
a. The required accounting for trading securities and for securities classified as available-for-sale differs with respect to the income statement but not with respect to the balance sheet. b. The unrealized gain or loss on trading securities appears in net income in the period when fair value changes occur. c. The unrealized holding gain or loss on securities available-for-sale appears in other comprehensive income period by period, and its cumulative amount resides in the Accumulated Other Comprehensive Income account on the balance sheet. d. Users of the financial statements should be alert to this accounting effect in evaluating the profitability of firms with both trading securities and securities available-for-sale. e. all of the above
Firms typically segment international markets using three general bases: global, regional, and
A. national. B. unique. C. cultural. D. political. E. economic.
Which of the following statements is correct?
A) Quantity discounts will not change the total inventory costs of the item. B) Inventory levels can be lowered by raising the order quantity. C) You must know the ordering cost to use the EOQ concept. D) If stock is not received all at once into inventory, then EOQ formula can be modified and used. E) None of the above is correct.