Knowledge of industry product trends is crucial to the auditor's identification of the potential for the impairment of assets
a. True
b. False
Indicate whether the statement is true or false
False
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In 2010, Tru Corporation deducted $5,000 of bad debts. It received no tax benefit from the deduction because it had an NOL in 2010 that it was unable to carry back or forward. In 2011, Tru recovered $4,000 of the amount due.a)What amount must Tru include in income in 2011?b)What effect does the $4,000 have on E&P in 2011, if any?
What will be an ideal response?
Usually the creditor and debtor state in their agreement what events constitute default by the buyer, without being subject to the Uniform Commercial Code (UCC) requirement that the parties act in "good faith" in doing so.
Answer the following statement true (T) or false (F)
If a firm is considered customer-centric, it implies that the company ________.
A. gives more importance to customers in everything that takes place both inside and outside the firm B. treats employees as customers and develops systems and benefits that satisfy their needs C. does marketing research on all market segments and creates ads that focus on individual market segments D. places employees and customers at the top of the organizational chart E. develops products and services that sell well in both large and small markets including some international markets
What is the probability that a product will function properly for a specified time under stated conditions?
A) functionality B) maintenance C) durability D) reliability E) fitness for use