The Office Supplies account is a temporary account
Indicate whether the statement is true or false
FALSE
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In 2008, the largest merger and acquisition deal in the pharmaceutical industry, Roche's acquisition of Genentech, is an example of an equity stake
Indicate whether the statement is true or false
Conflicts between two mutually exclusive projects occasionally occur, where the NPV method ranks one project higher but the IRR method ranks the other one first. In theory, such conflicts should be resolved in favor of the project with the higher positive NPV.
Answer the following statement true (T) or false (F)
Which of the following is likely to present an opportunity for MNCs to make a positive impact in developing countries?
A. Underdeveloped infrastructure B. Adoption and exportation of best practices C. Lax environmental standards D. Low wage rates
Cement Company, Inc. began the first quarter with 1,000 units of inventory costing $25 per unit. During the first quarter, 3,000 units were purchased at a cost of $40 per unit, and sales of 3,400 units at $65 per units were made. During the second quarter, the company expects to replace the units of beginning inventory sold at a cost of $45 per unit. Cement Company uses the LIFO method to account for inventory.What is the correct journal entry to record cost of goods sold at the end of the first quarter? A)Inventory8,000 Cost of Goods Sold 8,000B)Inventory8,000 Excess of replacement cost over historical cost of LIFO liquidation 8,000C)Cost of goods sold138,000 Inventory 130,000 Excess of replacement cost over historical cost of LIFO liquidation 8,000D)Cost of goods
sold130,000 Excess of replacement cost over historical cost of LIFO liquidation8,000 Inventory 138,000E)No journal entry is required A. Option B. B. Option D. C. Option E. D. Option C. E. Option A.