Manufacturer costs are the lowest during the introduction stage of the product life cycle
Indicate whether the statement is true or false
FALSE
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Management has been found involved in many fraudulent schemes; a common one is "channel stuffing.". What does "channel stuffing" involve?
a. Overly complex transactions. b. Growth through stock acquisitions. c. Shipment of goods not ordered. d. Management compensation schemes.
Existing (maintained) applications are the prototypes for their new versions
Indicate whether the statement is true or false
An error in the ending inventory balance will cause an error in the calculation of cost of goods sold.
Answer the following statement true (T) or false (F)
Clean Machines Company makes washing machines. Over the phone, Clean offers to sell Dealers Appliance Outlet one hundred model EZ2000 washers at a price of $150 per unit. Clean says that it will keep the offer open for ninety days. Dealers responds that
within two or three weeks it will decide whether to accept. One week later, Clean faxes, and Dealer receives, notice that the offer is withdrawn. Dealer immediately phones Clean to accept the $150-per-unit offer. When Clean refuses to deliver at that price, Dealer files a suit. Clean asserts, first, that there is no contract and, second, that if there is a contract, it is unenforceable. Discuss Clean's assertions.