In the People v. Farell case, the court looked first to the words of the statute itself to determine legislative intent and determined that the theft statute applied to trade secrets as well as money
a. True
b. False
Indicate whether the statement is true or false
True
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Under a periodic inventory system, closing entries will include
A) Dr. Sales, Purchases Returns and Allowances, Purchases Discounts B) Cr. Purchases, Sales Discounts, Sales Returns and Allowances C) Adjust Merchandise Inventory Account to match physical inventory D) All are correct
Information integrity issues occur when a system produces incorrect, inconsistent, or duplicate data.
Answer the following statement true (T) or false (F)
Aaron and Bryson are both residents of Iowa, but they have a dispute regarding some land located in Kansas. Aaron files, in Kansas, a lawsuit regarding the land and Bryson objects, claiming the Kansas courts have no jurisdiction. In this case:
A) only the Iowa courts can hear the lawsuit. B) the Iowa federal district court can hear the suit based on diversity of citizenship. C) the Kansas courts have in rem jurisdiction to adjudicate the claim regarding the property. D) the Kansas federal district court can hear the suit based upon diversity of citizenship.
Laminates Inc has as age of inventory of 43 days, an age of receivables of 47 days and an age of payables of 61 days. Their closest competitor, Natural Inc, has comparable numbers of 51 days, 32 days and 55 days
Which of the following statements is TRUE? A) Laminates has the shorter and more desirable working capital gap of 57 days compared to Natural's WCG of 74 days. B) Laminates has the longer and less desirable working capital gap of 65 days compared to Natural's WCG of 36 days. C) Laminates has the shorter and less desirable working capital gap of 28 days compared to Natural's WCG of 49 days. D) Laminates has the longer and less desirable working capital gap of 29 days compared to Natural's WCG of 28 days.