A(n) ___________ signs an instrument to lend his credit to an instrument, and his liability is determined by the capacity in which he signs
a. indorser
b. accommodation party
c. authorized agent
d. maker
b
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Which of the following need not be disclosed on a segmental basis for a subunit identified as a reportable segment?
a. Net assets b. Sales c. Identifiable assets d. Total depreciation, depletion, and amortization
If the amount assigned to ending inventory is incorrect, then:
A) the balance sheet is affected, but the income statement is not. B) the income statement is affected, but the balance sheet is not. C) the balance sheet is affected, but cost of goods sold is not. D) both the balance sheet and income statement are affected.
Jenny, an employee of Toucan Company, used company assets for her own personal gain. This is an example of:
A. employment perks. B. fraud. C. internal control. D. employee advance. E. ethics.
How is depreciation expense reported on the statement of cash flows?
What will be an ideal response?