All of the following statements are true except:
a. U.S. standards do not require a classified balance sheet.
b. IFRS require companies to present classified balance sheets.
c. Under IFRS, an unclassified balance sheet based on the order of liquidity is acceptable only when it provides more reliable information than a classified one.
d. U.S. standards require a classified balance sheet with liabilities in order by size or by order of liquidity.
d
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The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $14,000 Social security and Medicare Taxes withheld 975 Income Taxes withheld 2,600 Retirement Savings 1,000 The entry to record the payment of net pay would include a
A) debit to Salaries Payable for $14,000 B) Debit to Salaries Payable for $9,425 C) Credit to Salaries Expense for $9,425 D) Credit to Salaries Payable for $9,425
Shenandoah Springs Company is considering two investment opportunities whose cash flows are provided below: YearInvestment A Investment B0 $(15,500) $(9600) 1 5180? 5180? 2 5180? 4160? 3 5180? 3220? 4 4160? 1240? The company's hurdle rate is 10%. What is the present value index of Investment B? Use Appendix Table 1. (Do not round intermediate calculations. Round your answer to two decimal points.)
A. 1.00 B. 1.19 C. 1.06 D. None of these answers is correct.
Which of the following statements is NOT good advice for a marketing manager regarding media selection?
A. "The advertising media should support the promotion objectives." B. "Remember that not all media are equally effective." C. "Choose media that reach the target market." D. "Target the mass market whenever possible." E. All of these are good advice.
All of the following are reasons for the increasing use of ethical and sustainable sourcing practices EXCEPT:
A. Global population growth B. Increasing environmental awareness C. Legislation requiring corporate ethical and sustainable sourcing D. Consumers' desires for better corporate responsibility