Horizontal privity pertains to remote sellers within the chain of distribution
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is NOT correct regarding a change in reporting entity?
a. Financial statements of the year in which the change in reporting entity is made should disclose the nature of the change and the reason for the change. b. The effect of the change on income before extraordinary items, net income, and earnings per share amounts should be reported for all periods presented. c. Financial statements presented for all prior periods must be restated. d. The effect of the change on income before extraordinary items, net income, and earnings per share amounts should be reported for all periods presented and must be repeated in all periods subsequent to the period of the change.
The publisher of a business magazine wants to make several major changes in the magazine's content and format. Which of the following will enable the publisher to understand the changes that will most likely be welcomed by its readers?
a. Product differentiation b. Cannibalization c. Marketing research d. Planned obsolescence
If there is no agreement, partners in a general partnership share profits and losses equally
Indicate whether the statement is true or false
Mary is 38 years old and many of her friends have gotten into trouble using their credit cards to buy things they can't afford. She feels lucky that her grandmother told her that credit is dangerous and that she should always pay cash for everything
So far, Mary has never had credit in her name and even paid cash for her car. From a personal finance perspective, what advice would you give to Mary? A) Nothing, it looks like we all could take advice from her! B) Make sure that you keep a lot of money in liquid investments in case of an emergency. C) It's great that you don't owe any money, but you really need to establish credit in your name so you will have it if you need it in the future. D) You might want to talk with your insurance agent because having no credit history is probably causing you to pay higher rates for your insurance. E) Both C and D would be good advice for Mary.