Vimeo, YouTube, Flickr, and Periscope are used for video and photo sharing.
Answer the following statement true (T) or false (F)
True
Video and photo sharing services, among the fastest growing social networks, include YouTube, Vimeo, Flickr, and Periscope.
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If a company overstates its ending inventory balance for 2015 by $10,000, and understates its ending inventory balance for 2014 by $5,000 what are the effects on its net income for 2015 and 2014? Effect on 2015 Net Income Effect on 2014 Net Income
a. Overstated by $15,000 Understated by $10,000 b. Understated by $5,000 Overstated by $10,000 c. Overstated by $15,000 Understated by $5,000 d. Overstated by $10,000 Understated by$5,000
A method used by companies to fraudulently inflate revenues includes which of the following?
a. Use of hidden "side letters" giving the customer an irrevocable right to return the product. b. Recording of fictitious sales. c. Shipment of product not ordered by customers. d. All of the above.
In a period of rising purchase costs, LIFO usually gives a lower taxable income and therefore, yields a tax advantage.
Answer the following statement true (T) or false (F)
Which of the following industries allows the hot cargo agreement?
A) construction B) automobile C) health services D) financial services