Accountants should be aware that LIFO liquidations can potentially result in which of the following?
a. If older less costly layers are liquidated, a correspondingly lower cost of goods sold will result.
b. If older less costly layers are liquidated, a correspondingly higher gross profit will result.
c. If older less costly layers are liquidated, the company may be faced with higher taxes for those deferred in previous periods.
d. All of these could result.
d
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When a company classifies a component as held for sale, it must report the component on its balance sheet at the lower of its book value or its fair value minus costs to sell
Indicate whether the statement is true or false
Semicolons show ____________________ than do periods
a. less adamancy b. more stoppage c. more formality d. closer relationships
Which of the following is true of theater testing?
A. One of the disadvantages of theater testing is that it fails to identify strong or weak commercials. B. Theater testing is used to test animatic and photomatic roughs. C. Theater testing is typically considered to be "self-indulgent" by most critics. D. The methods of theater testing operations vary, though all measure brand preference changes. E. Theater testing is a popular field method of pretesting finished commercials.
A declining stock market index due to lower share prices
A) reduces people's wealth and as a result may reduce their willingness to spend. B) increases people's wealth and as a result may increase their willingness to spend. C) decreases the amount of funds that business firms can raise by selling newly issued stock. D) both A and C of the above. E) both B and C of the above.