SFAC No. 5 defines disclosure as:
a. presentation of information in the financial statements.
b. presentation of information by means other than recognition in the financial statements.
c. recognition of information in the financial statements or footnotes.
d. presentation of information in any source available.
ANSWER: B
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______________________________ is an integrated decision support system for planning, executing, and controlling manufacturing operations
Fill in the blank(s) with correct word
Mary buys a new toaster for $500. The toaster's label bears a disclaimer stating that the manufacturer is not liable for consequential damages
One day, while Mary is using the toaster, it starts emitting sparks and the electrical wiring of the kitchen gets damaged. The electrician tells Mary that the toaster malfunctioned and that the cost of repairs would be $2,000. What monetary damages can Mary recover from the manufacturer of the toaster? A) $500 B) $2,500 C) $2,000 D) damages cannot be recovered
"My business relationship with the Midwest sales rep has really deteriorated. We used to cooperate; now we ________," said the manager of the Southwest region. "And I blame our new control system. Every month, managers across the entire enterprise get profit and loss statements for all divisions and business units. We look at one another's performance and are less likely to help one another when we know that our business unit or division may suffer a loss in profitability as a result. After all, promotions, salary increases, and bonus pools are tied to our profitability."
A. ignore one another B. promote change C. feel threatened D. compete E. resist change
The demand for refrigerators at an appliance store adheres to the following probability distribution:
Demand per day 0 1 2 3 4 Lead Time 1 2 Probability 0.15 0.2 0.3 0.2 0.15 0.80 0.20 Random # 01-15 16-35 36-65 66-85 86-00 01-80 81-00 The store orders 4 refrigerators per day to have in stock to meet demand. They are trying to maintain low inventory levels. The holding cost is $5/unit/day. The ordering cost is $20 per order. The lost sale cost is $10/unit. A simulation is to be developed to estimate the average daily inventory cost over 5 days. The table below shows the random numbers to be used for refrigerator demand and lead time on orders: demand random number lead time random number day 1 88 54 day 2 27 94 day 3 32 44 day 4 36 75 day 5 54 71 Assuming that beginning inventory is equal to 5 with no prior orders in transit, what is the overall average daily cost of inventory for the 5 days?