A corporation must keep its funds separate from those of its shareholders
Indicate whether the statement is true or false
True
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Alex brought his lunch today but now a co-worker has asked him to go to the deli across the street. Select the correct statement from the following.
A. The cost of the lunch Alex already has represents the opportunity cost of dining with his friend. B. The cost of the lunch Alex had brought is relevant to Alex's decision to have lunch with his friend. C. The cost to buy lunch at the deli is not relevant because it has not yet been incurred. D. The cost of the lunch that Alex had brought has nothing to do with his current decision.
Men use ________ to convince the other party that their position is the correct one and to support various tactics and ploys that are used to win points during the discussion.
Fill in the blank(s) with the appropriate word(s).
Which of the following is/are not true?
a. An employer must recognize changes in the funded status of a defined benefit retirement plan on its balance sheet each period. b. U.S. GAAP and IFRS require the employer to recognize changes in the funded status of a defined benefit retirement plan immediately in net income. c. Changes in the net funded status of a defined benefit retirement plan because investment performance differs from expectations, or because of changes in actuarial assumptions, or in the retirement benefit formula, initially affect other comprehensive income. d. Firms amortize the amounts in Other Comprehensive Income over the expected period of benefit as an adjustment to retirement plan cost. e. all of the above
The specific identification method of inventory costing is recommended when a business deals in unique and high-priced inventory items
Indicate whether the statement is true or false