In a cost-based contract, the stated price does not change, regardless of fluctuations in the general overall economic conditions
Indicate whether the statement is true or false.
Answer: FALSE
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In an open-item accounts receivable system, customer statements display invoices (new or settled in the current period), along with payment details
Indicate whether the statement is true or false
Customers should be billed for back-orders when
a. the customer purchase order is received b. the backordered goods are shipped c. the original goods are shipped d. customers are not billed for backorders because a backorder is a lost sale
Who is primarily responsible for efficiency control?
A) BAMT B) marketing auditor C) middle management D) line and staff management E) top management
Banks Corp reported net income of $595,000 in 2012 . During 2012 Banks reported a loss of $87,435 from a peripheral activity. The loss was included as part of income from continuing operations. Assuming that the loss is a one-time event and that Banks
has an effective tax rate of 35% calculate Banks' adjusted net income. Show all of your calculations for credit. In addition, discuss why analysts might make an adjustment of this type.