For inventories, market value generally means the current replacement cost
Indicate whether the statement is true or false
TRUE
You might also like to view...
Which of the following is true about a pulsing message reinforcement strategy?
A) It is more expensive than maintaining a high level of awareness with traditional media. B) It can be used for products that are purchased more frequently at some times of the year than at others. C) It involves maintaining a certain level of base advertising at all times. D) It reduces copy wear-out due to overexposure to the same messaging. E) It involves increasing the message frequency just before and during the prime buying period of a product.
On January 3, 2018, Roberts Company purchased 30% of the 100,000 shares of common stock of Thomas Corporation, paying $1,500,000. There was no goodwill or other cost allocation associated with the investment. Roberts has significant influence over Thomas. During 2018, Thomas reported net income of $300,000 and paid dividends of $100,000. On January 4, 2019, Roberts sold 15,000 shares for $800,000.What is the appropriate journal entry to record the sale of the 15,000 shares? A)Cash800,000 Investment in Thomas 800,000B)Cash800,000 Investment in Thomas 780,000 Gain on sale of investment 20,000C)Cash800,000 Loss on investment12,000 Investment in Thomas 812,000D)Cash800,000 Investment in Thomas 790,000 Gain on sale of investment 10,000E)Cash800,000 Loss on sale
of investment15,000 Investment in Thomas 815,000 A. C Above. B. E Above. C. D Above. D. A Above. E. B Above.
For an act to be established as a tort of injurious falsehood, the false statements of fact must be communicated by the defendant to a third person
Indicate whether the statement is true or false
In MacPherson v. Buick, where the wheel on a new Buick collapsed, causing the car to crash, injuring MacPherson, the court of appeals held that:
a. Buick was not responsible to the consumer because it did not make the defective wheel b. the wheel manufacturer was liable for negligence for making a defective wheel c. Buick was not liable because it did not have privity with MacPherson, the buyer d. Buick was not liable; the dealer was liable as the seller of the finished product e. none of the other choices