Owners of a corporation are called shareholders or stockholders.
Answer the following statement true (T) or false (F)
True
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______________________________ is the time it takes from when authorization is made for goods to be produced to when the goods are completed
Fill in the blank(s) with correct word
Which one of the following items is correct concerning the time element of financial statements?
a. The balance sheet covers a period of time. b. The statement of retained earnings explains changes during a particular period. c. An income statement lists amounts at a specific point in time. d. Both the income statement and the balance sheet cover a period of time.
Which one of the following statements is false?
A) Under conditions of rising prices, the LIFO method results in lower income than the FIFO method. B) In most cases, the FIFO method approximates the physical flow of items in inventory. C) The LIFO method produces a higher ending inventory value than the FIFO method. D) The FIFO method includes holding gains in income.
Which of the following is an acceptable way to ease the impact of bad news?
A) Using the active voice B) Putting the bad news ahead of the explanation C) Avoiding the passive voice D) Surrounding the bad news by two subordinate clauses E) Avoiding clear phrasing