A company uses a cost flow method (such as LIFO or FIFO) to allocate product costs between cost of goods sold and beginning inventory.
Answer the following statement true (T) or false (F)
False
The selection of cost flow method allocates product costs between cost of goods sold and ending, not beginning, inventory.
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Jennifer runs her own business. An auditor observes some discrepancies in the company's finances, and the case is taken to court. In a trial, a subpoena requires her to produce the books and records related to her business
Which of the following statements is true about this scenario? A) If the business is run as a corporation, the Fifth Amendment to the U.S. Constitution's privilege against self-incrimination allows Jennifer to refuse to produce the records. B) If the business is run as a sole proprietorship, the Fifth Amendment to the U.S. Constitution's privilege against self-incrimination allows Jennifer to refuse to produce the records. C) The Fifth Amendment to the U.S. Constitution's privilege against self-incrimination extends to custodians of corporate records, which allows Jennifer to refuse to produce the records. D) The Fifth Amendment to the U.S. Constitution's privilege against self-incrimination extends to all forms of business, which allows Jennifer to refuse to produce the records.
Pacific Charter Company offers to provide an air-conditioned bus to Quincy's tour group for $1,500 plus the cost of the fuel. The mailbox rule applies if Quincy accepts the offer by
A) e-mail B) phone. C) regular mail. D) any of the choices.
DeBeers sells most of the diamonds it produces to industry. The company controls over 90 percent of the market and has great power over its distributors. In its marketing channel, DeBeers would be considered a:
A. channel authority B. channel member C. channel leader D. channel gatekeeper E. power broker
Which of the following sampling methods is the most statistically efficient (the most representative)?
a. simple random b. systematic random c. stratified random d. cluster e. All are equally statistically efficient.