The tasks in a WBS must be developed as a sequential list of steps
a. True
b. False
Indicate whether the statement is true or false
False
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A prior period adjustment can arise from an error found that occurred in a prior period, a change is accounting entity, or a change in accounting principle
Indicate whether the statement is true or false
Restrictions on retained earnings are ________.
A) reported on the statement of cash flows B) usually reported in the notes to the financial statements C) reported on the income statement D) designed to maximize dividends paid to shareholders
________ create new independent businesses with the benefit of corporate support.
A. Intrapreneurs B. Franchisors C. Franchisees D. Corporate managers E. Observers
Indicate how each event affects the elements of the financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = IDecrease = DNo Effect = NA(Note that "No Effect" means that the event either does not affect the element of the financial statements or that the event causes an increase in that element and is offset by a decrease in that same element.) Sierra Mining is the defendant in a $3 million lawsuit involving damage to the environment. Sierra's attorneys have advised the company that the outcome of the lawsuit is reasonably possible, but not probable.AssetsLiabilitiesStk. EquityRevenuesExpensesNetStmt. of ?IncomeCash Flows???????
What will be an ideal response?