Generally, accrued foreign income taxes are translated at the:
A. Exchange rate when the taxes are paid.
B. Exchange rate on the date when the taxes are accrued.
C. Average exchange rate for the tax year to which the taxes relate.
D. Average exchange rate for the last five tax years.
Answer: C
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What effect does "recognizing revenue at the end of the accounting period for rent previously received in advance" have on the accounting equation for an insurance company?
a. Stockholders' equity increases and liabilities increase. b. Assets increase and stockholders' equity increases. c. Assets decrease and liabilities decrease. d. Liabilities decrease and stockholders' equity increases.
Ethical issues arise if the process of defining the problem and developing an approach is compromised by the personal agendas of the client (DM) or the researcher. Which of these statements concerning ethics in marketing research is not true?
A) The DM has the obligation to be candid and disclose to the researcher all the relevant information that will enable a proper definition of the marketing research problem. B) The researcher is ethically bound to offer the most expensive set of services to each client. C) The problem definition process is adversely affected when the DM has hidden objectives such as gaining a promotion. D) The researcher is ethically bound to define the problem so as to further the best interest of the client, rather than the interest of the research firm.
The Pure Drug Company produces insulin, a product with a very stable demand, even though the price has changed several times in the past two years. Insulin is a product with ________ demand
A) joint B) service C) inelastic D) elastic E) fluctuating
The statement of cash flows reports the amount of cash flow from a firm's
a. divestiture, and acquisition activities. b. operating, divestiture, and acquisition activities. c. funding and disbursement activities. d. operating, investing, and financing activities. e. operating, funding and disbursement activities.