Long-term financial plans must include capital expenditures
Indicate whether this statement is true or false.
Answer: TRUE
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Which of the following is not correct regarding the provisions of IAS No. 8 on accounting changes and error corrections?
a. A change in accounting estimate is reflected in the current and future periods. b. A change in depreciation method (such as from an accelerated method to the straight-line method) is classified as a change in estimate. c. A change in depreciation method (such as from accelerated method to the straight-line method) is classified as a change in accounting principle. d. IAS No. 8 generally reflects a preference for restating prior results to improve comparability of financial statements.
Stage 2 of the group development stages is characterized by ______ development.
a. high b. outstanding c. moderate d. low
The size of a retailer's trading area is based solely upon residents, not employees in office buildings or factories
Indicate whether the statement is true or false
The following balance sheet information was provided by O'Connor Company:Assets Year 2 Year 1 Cash$4,000 $2,000 Accounts receivable 15,000 12,000 Inventory$35,000 $38,000 Assuming that net credit sales for Year 2 totaled $270,000, what is the company's most recent accounts receivable turnover?
A. 7.7 times B. 18 times C. 22.5 times D. 20 times