Prepaid advertising, representing payment for the next quarter, would be reported on the balance sheet as a(n)
A) asset
B) liability
C) contra asset
D) expense
A
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Esther and Salim are promoters for Kale Inc. Prior to its incorporation, Esther negotiated several preincorporation contracts with Ian, an investor. She signed each contract in the name of Kale Inc. Kale subsequently was incorporated, but the Kale Board of Directors refused to adopt the contracts. Ian later sues Kale, Esther, and Salim on the contracts. Which of the following statements is true of this case?
A. Kale, Esther, and Salim are liable as they are sued by Ian. B. Esther and Salim are liable as they are promoters of Kale Inc. C. Only Kale and Esther are liable as Esther, a promoter of Kale, negotiated several preincorporation contracts with Ian. D. Esther is solely liable as she signed each contract in the name of Kale Inc.
There are several basic questions involved in sampling design. "Should a sample be taken? If so, what process should be followed?" are two such questions. Which of the following questions is also involved in sampling design?
A) What kind of sample should be taken? B) How large should the sample be? C) What can be done to control and adjust for nonresponse errors? D) All of the above are correct.
Jim is a manager at a local retail store. Currently, his employees receive pay checks weekly. Jim is thinking about changing this to biweekly pay checks and incorporating quarterly bonuses based on individual employee sales totals. If he proceeds, Jim would be making what kind of changes?
a. continuing fixed interval schedule and starting fixed ratio schedule b. stopping fixed interval schedule and starting fixed ratio schedule c. continuing fixed interval schedule and starting variable ratio schedule d. stopping variable interval schedule and starting fixed ratio schedule
FIFO is the inventory costing method that follows the physical flow of the goods
Indicate whether the statement is true or false