A court faced with an unconscionable lease contract may refuse to enforce the entire contract
Indicate whether the statement is true or false
True
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Which of the following statements is true regarding extraordinary items on the income statement?
a. U.S. GAAP prohibits the presentation of extraordinary items on the income statement. b. IFRS prohibits the presentation of extraordinary items on the income statement. c. U.S. GAAP allows extraordinary gains and losses on the balance sheet. d. IFRS allows the classification of gains and losses on the income statement as extraordinary as long as long as they are both unusual in nature and infrequent in occurrence.
Return on investment measures:
a. return to all suppliers of funds. b. return to all long-term creditors. c. return to all long-term suppliers of funds. d. return to stockholders. e. return to all short-term suppliers of funds.
The key objective in managing individual development projects, _______, consists of all the one-time development costs a specific project incurs development speed
a. development speed b. product cost c. product performance d. development program expense
International financial reporting standards (IFRS):
a. Will become much more important in the United States and globally. b. Are allowed by the SEC for foreign registrants in the U.S. c. Are currently required in Europe and other countries. d. All of these are correct.