Which of the following is true?
a. Cash flow data is superior to earnings under the accrual basis in predicting long-term performance of an entity.
b. Earnings under the accrual basis is superior to cash flow data in predicting short-term performance of an entity.
c. Earnings under the accrual basis is superior to cash flow data in predicting long-term performance of an entity.
d. Cash flow data is superior to earnings under the accrual basis in predicting both short- and long-term performance of an entity.
C
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Describe the Baby Boomer market and the impact it has had on marketing efforts
What will be an ideal response?
The effect of a misstatement of the year-end inventory is limited to the net income for that year
a. True b. False Indicate whether the statement is true or false
For a construction project, ill-defined responsibilities are associated with the
A) team factor of the subcontractors category. B) site factor of the environment category. C) tactics factor of the subcontractors category. D) control factor of the project category.
David and Veronica Allen bought land in Independence, Missouri, during 1994 for $22,000. In January 1998, they listed it for sale with a broker, Chuck Zuvers, asking $88,000. The property remained on the market until May 1999, when Thomas C. Scott contracted to buy it for $90,000. Scott signed the sales contract as "Thomas C. Scott, or assigns" because he was organizing Scott, Hewitt & Mize as a
limited liability company and wanted the land deeded to the firm. At closing, and following Scott's instruction, the Allens deeded the property to "Scott, Hewitt & Mize, LLC." Although Scott and his partners had filed articles of organization for Scott, Hewitt & Mize with the Secretary of State before closing, the Secretary of State rejected the articles because of errors contained in them. Scott corrected the errors, and the Secretary of State issued a certificate of organization to Scott, Hewitt & Mize nine days after closing. ?The deed was recorded under the LLC's name, but the LLC did not exist. Which of the following statements is correct? A)?The deed is still valid and the LLC holds title since the Secretary of State certified the LLC nine days after closing. B)?There is a gap in the chain of title because of a transfer to grantee without legal status. C)?The chain of title is fixed if the LLC re-records the deed. D)?A deed can be recorded in the name of an existing or quasi-existing entity.