Which institution can be classified as either a wholesaler or retailer?
a. off-price chain
b. factory outlet
c. membership club
d. department store
c
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Which organization would have the ultimate responsibility of deciding if the advantages outweigh the disadvantages in the adoption of IFRS accounting standards in the U.S.?
a. FASB b. SEC c. IASB d. AICPA
Increased scrap, excessive purchases, physical abnormalities, etc. are all examples of:
a. accounting anomalies. b. external control weaknesses. c. analytical anomalies. d. unusual behavior.
Which of the following is a provision of SFAS No. 131?
a. Segment liabilities must be reported, but reported segment assets is optional. b. Reconciliation of segment profit or loss to consolidated profit of loss must be done before income taxes. c. A segment is constituted by having 20% or more of combined revenue of all operating segments. d. Segment reporting is based on the way management organizes the segments for making operating decisions and assessing performance.
Policies that affect the supply, demand, and value of a nation's currency are:
A. Fiscal policies. B. International standards policies. C. Social assistance policies. D. Monetary policies.