A transition matrix cannot cause the system to cycle between states
Indicate whether this statement is true or false.
Answer: FALSE
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When disclosing the impact of a retrospective adjustment for the change from LIFO to FIFO in 2017, which of the following impacts is not expected to be reported in the comparative financial statements when two-year comparative statements are presented?
A) impact on beginning inventory for 2016 B) impact on 2016 net income C) impact on ending inventory for 2017 D) impact on cost of goods sold for 2016
Which of the following is/are true regarding the acquisition method for a business combination?
a. Measure the identifiable tangible and intangible assets and liabilities of the acquired company at their fair values. b. The acquirer compares the fair value of the cash, common stock, or other consideration given with the fair value of the identifiable assets less liabilities acquired. c. The excess of the fair value of the consideration over the fair value of the acquired firm's identifiable assets net of identifiable liabilities is goodwill. d. If the fair value of the identifiable assets less liabilities exceeds the fair value of the consideration, the excess is a gain from a bargain purchase, which the purchaser immediately includes in net income. e. all of the above
Adding intelligence to lean is sometimes referred to as?
a. Smart push b. Smart pull c. Small push d. Small pull
Which of the following was established by signing the Treaty of Paris by the original six members of the European Community?
A) GATT B) European Atomic Energy Commission C) European Coal & Steel Community D) The Single European Act