Which of the following is not an error that would require a company to record a prior period adjustment? Assume all are material
A) A mathematical mistake is made in the calculation of bad debt expense.
B) Facts of a bond retirement transaction are misconstrued.
C) Accounting principles are misapplied in the valuation of inventory.
D) A correction is made to the estimated useful life of a building.
D
You might also like to view...
______ are a set of prescribed behaviors, and are something that all family members perform.
A. Mores B. Roles C. Chores D. Jobs
In considering a large-scale layoff, a manager performs a cost-benefit analysis and determines that profits will be greatest if she proceeds. She is using the ______ approach to guide her decision regarding an ethical dilemma.
a. individual b. responsibility c. utilitarian d. moral-rights e. justice
Which ethical question is not relevant to the process of marketing a product?
A. Can producers discriminate in favor of, or against, some consumers? B. Who is responsible for harms caused by a product? C. Is the customer's willingness to pay the only ethical constraint on fair pricing? D. What responsibility do producers have for the quality and safety of their products? E. All of the answers are correct. F. None of the answers are correct.
Which of the following is a theory that looks at how people compare their inputs to their outcomes?
A. expectancy theory B. equity theory C. needs theory D. goal setting theory