Most option profits and losses are realized through taking actual delivery of the currency rather than offsetting contracts
Indicate whether the statement is true or false.
Answer: FALSE
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A company uses the retail inventory method and has the following information available concerning its most recent accounting period:?At CostAt RetailBeginning-of-period inventory$148,600$245,200Net purchases677,4001,229,800Sales?1,200,0001. What is the cost-to-retail ratio using the retail method?2. What is the estimated cost of the ending inventory?
What will be an ideal response?
Inventoriable costs:
A. include only the prime costs of manufacturing a product. B. exclude fixed manufacturing costs. C. include only the conversion costs of providing a service. D. are regarded as assets until the units are sold.
In the following situations, two parties claim the same goods. Who is most likely to prevail in each circumstance? Explain. (a) Olan steals Phil's television set and sells it to Quincy, an innocent purchaser, for value. Phil learns Quincy has the set
and demands its return. (b) Riley takes his television set for repair to Slick, a merchant who sells new and used television sets. By accident, one of Slick's employees sells the set to Tuna, an innocent purchaser-customer, who takes possession. Riley wants his set back from Tuna.
Zapstreet is a stock brokering firm. Its employees use a private network within the organization to communicate with each other regarding stock prices and trading accounts. Zapstreet's network is an example of a(n) ________.
A. cloud B. intranet C. server D. Ethernet E. WLAN