A contingent liability is best described as a(n)
A) current liability.
B) probable liability.
C) potential liability.
D) estimated liability.
C
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IFRS, like U.S. GAAP, require the use of the lower of cost or market method to value inventory, however some differences do exist. Which of the following is not one of the differences?
A) IFRS eliminate the need to use a ceiling in determining market value. B) When write-downs occur, IFRS do not specify how the loss must be categorized in the income statement. C) IFRS allow the reversal of a previous write-down. D) IFRS define market only as replacement value.
Which of the following would not be considered a step in progressive discipline?
A) oral notice B) demotion notice C) rehabilitation D) mitigation E) suspension
A marketing manager might use the total quality management approach to
A. train better salespeople. B. make delivery schedules more reliable. C. improve customer service. D. reduce defects in goods produced in factories. E. All these answers are correct.
Unlike other forms of promotion, ________ is not usually perceived as being sponsored by the company, especially in negative instances.
A. publicity B. direct marketing C. transit advertising D. outdoor advertising E. trade promotion