Which of the following statements regarding inflation and accounting is false?
a. The SEC requires U.S. companies to present supplemental financial information adjusted for the effects of inflation.
b. Instability of the measuring unit that is the currency occurs in countries with rampant inflation.
c. In some in Latin American and South American countries, companies have been required to adjust their financial statements to take into account the effects of inflation.
d. The FASB developed rules for companies in the United States to use to adjust for inflation.
a
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Oxford Packing Company reported net sales in November of the current year of $1,000,000. At the beginning of November, the company reported beginning inventory of $368,000. Cost of goods purchased during November amounted to $217,500. The company reported ending inventory at the end of November of $226,750. The company's gross profit rate for November of the current year was:
A. 58.6% B. 81.2% C. 35.9% D. 64.1% E. 18.8%
Which of the following has been put forward as a critique of the RBV?
a. Retrospective analysis not predictive b. Resources are too broad and vague a concept c. What is inimitable is too hard to define in advance d. All of the above
A scheduling approach driven by the quantity of assigned resources best describes
A) effort-driven scheduling. B) duration-based scheduling. C) event-based scheduling. D) task-based scheduling.
Tim buys a high-powered tool from Binford Tools to use on the construction of his own garage. Binford Tools provides a full warranty on the tool for the first six months. To pay for the tool, Tim signs a negotiable promissory note which contains the FTC Consumer Credit Notice. Binford properly negotiates the note to First Finance. Within three weeks, the tool stops working and Binford refuses to
repair or replace it. In the meantime, First Finance demands payment from Tim. Under the Federal Trade Commission rules, this consumer credit situation means First Finance A)can collect if it is a holder in due course. B)can collect if it is not a holder in due course. C)can collect whether or not it is a holder in due course. D)cannot collect.