Companies are free to choose FIFO, LIFO, or weighted-average cost to report inventory and cost of goods sold.
Answer the following statement true (T) or false (F)
True
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Due to potential legal problems, many companies have a policy that prevents employees from providing recommendation letters
Indicate whether the statement is true or false.
Companies normally develop ________ rather than single products and require sellers to establish perceived quality differences between price steps within it
A) product mix B) captive products C) product lines D) optional products E) average products
CAD, in the context of manufacturing flexibility, refers to?
a. Computer aided drafting b. Computer aided design c. Computer aided division d. Computer aided detailing
Manhattan Corporation provided the following partial list of account balances for Year 2:
The following additional information is also available for Year 2:• The company recognized a gain of $8,000 on sale of land that occurred when land that had cost $16,000 was sold for $24,000. • The company recognized a loss of $10,000 on the sale of marketable securities. • No additional marketable securities were purchased during the year. • The company also sold equipment originally costing $6,000 with accumulated depreciation of $4,000 for $3,600. • All purchases of land and equipment were made with cash.Required: Prepare the investing activities
section of the statement of cash flows. What will be an ideal response?