Common terminology, but not definitions in U.S. GAAP and IFRS, often refers to the difference between sales and cost of sales as gross margin, gross profit, or gross income
Indicate whether the statement is true or false
T
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The idea behind ________ is that adults who indicate an intent to be bound by contracts entered while still minors should be bound to those contracts and denied the right to disaffirm thereafter.
A. emancipation B. ratification C. forbearance D. disaffirmance
Barley Company is a medium-sized industrial firm that has been audited by your firm for several years. The only interest-bearing debt owed by Barley is a $300,000 long-term notes payable held by First National Bank. The notes were issued 4 years earlier
and will mature in 8 more years. Barley is highly profitable, has no pressing needs for additional financing and has excellent internal controls of the recording of loan and related interest cost transactions. REQUIRED: 1 . Based on this scenario, describe the auditing procedures that you think will be necessary for notes payable and related interest accounts. 2 . How will you answer differ if instead Barley Company was unprofitable, needed additional financing and had ineffective internal controls?
Which of the following résumé types emphasizes skills and capabilities, rather than employers and academic experience?
A) Chronological B) Combination C) Functional D) Traditional E) Online
______ is use of incentives to influence the actions of others.
A. Coercive power B. Legitimate power C. Expert power D. Reward power