The Scion line of cars was advertised through traditional channels such as network television and magazines
Indicate whether the statement is true or false
FALSE
You might also like to view...
Which of the following statements is not accurate with respect to accounting for other post-retirement plan benefits (OPEB)?
A. A decrease in the discount rate assumption used may lead to a large gain for a company. B. A company which shifts its former salaried employees from its post-65 retiree health plan to spending accounts that allow participants to buy health care from private exchanges creates a reduction in earned benefits referred to as a negative plan amendment. C. The actuarially determined service cost of the plan is accrued over the required years of service to participate in the postretirement benefit plan (e.g. 10 years). D. Firms are required to make sensitivity disclosures regarding the effect of a 1% increase or decrease in the health care trend rate assumption.
A two-tailed test is more conservative than the corresponding one-tailed test
Indicate whether the statement is true or false
The Byrne Company had its entire inventory destroyed when a fire swept through the company's warehouse on April 30, Year 2. Fortunately, the accounting records were locked in a fireproof safe and were not damaged. The following information for the period up to the date of the fire was taken from the accounting records: Sales$275,000Purchases190,000Beginning inventory22,500Required: Assuming that the gross margin has averaged 35%, what is the estimated value of the inventory destroyed in the fire?
What will be an ideal response?
Which of the following is not true regarding SFAS No. 142?
a. Goodwill may be defined as the excess earning power of an acquisition. b. Goodwill is defined as the difference between the amount paid for an acquired subsidiary and the fair market value of its individual net assets. c. Tests of goodwill impairment must be made on an annual basis. d. Because goodwill has an indefinite life, it is not subject to write-off as an expense.