Under the perpetual inventory system, cost of goods sold is not recorded until the end of the accounting period
Indicate whether the statement is true or false
False
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You are given the following information obtained from a random sample of 6 observations. Assume the population has a normal distribution. 14 20 21 16 18 19
a. What is the point estimate of ?? b. Construct an 80% confidence interval for ?. c. Construct a 98% confidence interval for ?. d. Discuss why the 80% and 98% confidence intervals are different.
anta Fe Corporation adopts a plan of liquidation late in the current tax year in which it expects to earn $100,000 profits from its operating activities. Santa Fe's operating activities are discontinued before the end of the year. Pursuant to the liquidation, it distributes assets, which result in the recognition of $30,000 of ordinary losses. Santa Fe also distributes assets that have
appreciated in value, which results in the recognition of $30,000 of ordinary gains. Generally, Santa Fe Corporation should distribute A) the $30,000 of ordinary loss property in the current year and the $30,000 of ordinary gain property next year. B) both the ordinary loss and gain properties this year. C) both the ordinary losses and gains properties next year. D) the $30,000 of ordinary gain property in the current year and the $30,000 of ordinary loss property next year.