Which of the following can be found on the Income Statements of both a manufacturing and service organization?
A) gross margin
B) operating income
C) administrative expenses
D) all these can be found on both.
D
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The inventory costing method that reflects the cost flow in the reverse order and will report the earliest costs in ending inventory is
A) First in first out B) Last in first out C) Average cost D) Specific identification
A letter of ________ addresses the person designated to receive a formal proposal and briefly presents the major features and benefits of the proposal
Fill in the blank(s) with correct word
Shares in Bonanza Inc. are trading at $100 per share on January 20. Gordon Gecko purchases a 10 day option for $1,000, to buy 50 shares of Bonanza at $100. Which of the following statements is FALSE?
A) On January 30, shares in Bonanza are $120. If Gecko exercises his option, he will have broken even. B) On January 30, Bonanza has gone down to $80. Gecko does not exercise his option. He has lost $1,000. C) There is no change in the price of the shares between January 20 and 30. If Gecko exercises his option, he will have broken even. D) There is no change in the price of the shares between January 20 and 30. Gecko declines to exercise his option. He has lost $1,000. E) Both C and D
A code of ethics is a formal statement of rules of conduct and
A. moral laws. B. legal restrictions. C. cultural values. D. core values. E. ethical principles.