A cost is sunk if it

a. has already been incurred.
b. is irrelevant to the decision.
c. an incremental cost.
d. is not an incremental cost.


a

Business

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In meiosis, the reduction from 2n to n is accomplished by sister chromatids splitting apart and migrating to opposite daughter cells.

Answer the following statement true (T) or false (F)

Business

Which of the following is a long-term solvency ratio?

a. Return on equity b. Dividends yield c. Debt to equity ratio d. Payables turnover

Business

A general principle of disclosure is that material related-party transactions should be disclosed. As the auditor of the Clarence Company, you have noted the following transactions entered into by Clarence during the past fiscal year: I. Clarence borrowed $1,000,000 from the Southwest Bank issuing a noninterest-bearing note. II. Clarence borrowed $2,000,000 from BH Savings at a rate significantly

above the market rate prevailing at that time for such a borrowing. III. Clarence borrowed $500,000 from First Bank with no scheduled terms for how or when funds will be repaid. Assuming all of the above transactions are material, which transaction or transactions above most likely would be a related party transaction requiring disclosure in Clarence's financial statements? a. Only I above. b. Both II and III above. c. Both I and III above. d. Only III above.

Business

Under the European Union, customs duties have been eliminated among member nations

Indicate whether the statement is true or false

Business