All line items in common-size comparative income statements are stated as a percentage of net income
a. True
b. False
Indicate whether the statement is true or false
False
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The income statements and balance sheets of service, retailing, and manufacturing businesses tend to differ.Required:A. Which of these businesses will disclose a cost-of-goods-sold figure on the income statement? Why?B. Briefly describe the difference between a retailing firm and a manufacturer's disclosure of inventories on the balance sheet.
What will be an ideal response?
Bob has been running the Handy Hardware Store for a few years now. As the business grew, he hired several mechanics who are now middle-aged and good at their jobs. Bob's son, Billy, is just out of college. Bob would like his son to take over the business, but is concerned that the middle-aged workforce might not receive the right guidance for the execution of the business from young Billy. He is also concerned about the displeasure the other employees might have at hiring Billy to run the business. Which of the following is the best course for Billy to take so that he can be hired in his father's company?
A. Billy should promise to work longer and harder than anyone else as it is the family's business. B. Billy should turn down other job offers remain unemployed until he is hired at Handy Hardware Store. C. Billy should urge his father to give him the top position immediately. D. Billy should seek a job in another company of the same industry, gain experience, and then join Handy Hardware Store.
The law of torts reflects all EXCEPT:
a. social values b. community standards c. the way we deal with each other in the current environment d. the international perspective on liability e. none of the other choices
Microsoft relies heavily on its network of independent software vendors to create customersolutions using the Solomon platform
Indicate whether the statement is true or false