Which of the following is an aggressive accounting practice?
A. Adjust the allowance for uncollectible accounts to a larger amount.
B. Record sales revenue before it is actually earned.
C. Record inventory at the lower of cost and net realizable value.
D. Change from straight-line to double-declining balance depreciation.
Answer: B
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Compute the cash flow from transactions involving treasury stock.
Louisiana Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet:
Note:
1. There were no stock retirements during the year.
2. There were no sales of treasury stock during the year.
A) zero net cash flow
B) $4500 of positive cash flow
C) $4500 negative cash flow
D) $13,000 negative cash flow
Vicarious liability is liability with fault
Indicate whether the statement is true or false
Which two dimensions form the foundation of corporate social responsibility in that they are required of a firm?
A. philanthropic and ethical B. economic and ethical C. legal and economic D. philanthropic and legal E. legal and ethical
Some claim that the main purpose of mission and vision statements is to motivate employees. Investigate and discuss this claim.
What will be an ideal response?