A small business that needs to purchase real estate could apply for a 7(a) guaranty loan.
Answer the following statement true (T) or false (F)
True
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If a company experiences a liquidation of a LIFO inventory layer in the second quarter that is expected to be restored by the end of the annual financial reporting period, the company should
a. treat the layer as if it were liquidated and include in cost of goods sold the expected replacement cost of the inventory sold. b. deplete the LIFO layer as if the interim period were an annual period. c. change to an alternative inventory cost method, such as FIFO, so that the problem of LIFO liquidation is not encountered. d. delay the recognition of both revenue and cost of goods sold on the inventory involved until a final determination of the LIFO inventory can be made at the end of the annual period.
Imagine you are CEO of a multinational company supplying infant care products to emerging economies. Do you and your company have a duty to go beyond legal requirements and conform to the ethical norms of the societies in which it operates?
What will be an ideal response?
Amounts needed for the preparation of the budgeted balance sheet are taken from various operating and financial budgets
Indicate whether the statement is true or false
By the beginning of 2013, banks held $1,191 billion in consumer loans. Finance companies held about ________ of that figure
A) 42% B) 68% C) 90% D) 117%