If a prior-period error only affects the balance sheet, the company should
A) discuss the error in the notes to the financial statements only.
B) restate the balance sheet from the prior year if it shows comparative financial statements.
C) make a correcting journal entry and restate the balance sheet for the prior year.
D) discuss the error in the notes to the financial statements and restate the balance sheet from the prior year.
B
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A major advantage of the target costing approach to pricing is that target costing
a. allows a company to analyze the potential profit of a product before spending money to produce the product. b. is not dependent on customers' quality versus price decisions. c. identifies unproductive assets. d. anticipates the product's profitability midway through its life cycle.
Explain and apply to the case John Kotter’s eight steps for managing change effectively.
What will be an ideal response?
The cruise line's insurance policy limits the number of donkeys in their herd to 5,000. What bulk price should the cruise line negotiate to make the 5,000 donkey herd size optimal?
A) $18,586 per ten thousand B) $18,362 per ten thousand C) $18,134 per ten thousand D) $17,978 per ten thousand
Which of the following scenarios exemplifies span of control?
A. Briley is responsible for the fall seasonal product line. B. Vanna is responsible for managing 16 employees. C. Octavio performs one single task repeatedly. D. Savannah makes all decisions affecting shipping. E. Lucy earns over $100,000 per year.