Which of the following is/are true?
a. Interpreting the income statement involves studying the relations among revenues, expenses, and net income both over time and across firms.
b. Comparisons are likely more valid for the same firm over time than across firms because of the difficulty in identifying truly similar firms.
c. In evaluating over-time performance of a given firm, the user must understand both current economic conditions and how those conditions may have changed over the period of analysis.
d. In evaluating across-firm performance, the user should control for the underlying business model by selecting peer firms that are similar, economically, to the firm being analyzed.
e. All of the above are true.
E
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The number of days between when the employees and suppliers provide goods and services and when the firm pays cash to those employees and suppliers is called the _____ period
a. financing b. grace c. float d. funds flow e. cash disbursement
A timetable for project completion is included in which section of an informal report?
A) ?Staffing B) ?Authorization Request C) ?Budget D) ?Proposal
MegaCorp occasionally sells products in Michigan. It does not have an office in that state and does not advertise in Michigan. The company's marketing representatives are based in New York but do travel to Michigan once a year to attend a trade show. Which statement is correct?
a. MegaCorp must register in Michigan because its sales representatives attend a trade show in Michigan. b. MegaCorp is not required to register in Michigan because it does not have an ongoing presence in Michigan. c. MegaCorp must register in Michigan because its actions qualify as doing business. d. Whether MegaCorp has to register in Michigan depends on where its shareholders reside.
In an ABC classification system, an A item ______.
a. may have low value but high sales volume b. may have low demand but high ordering cost c. may have low quality but high holding cost d. may have low quality but high ordering cost