A fixed-period inventory review system is also called
A) Aggregate
B) Declining
C) Accelerating
D) Continuous
E) Perpetual
E
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What is the legal significance of the distinction between rule of reason violations and per se
violations under the Sherman Act? A) Rule of reason violations might be proven to be acceptable, but per se violations cannot be acceptable under any circumstances. B) Rule of reason violations require an agreement with at least one other party, but per se violations can occur without an agreement with others. C) Rule of reason violations must be proven beyond a reasonable doubt, and per se violations must be proven with a preponderance of the evidence. D) Rule of reason violations relate to horizontal situations, and per se violations relate to vertical situations. E) Rule of reason violations relate to actions brought by private parties, and per se violations relate to actions brought by the government.
A person making less than the cutoff rate for Social Security pays 6.2% of his income in Social
Security taxes. Indicate whether the statement is true or false
Which of the following is a key part of the British constitution:
a. the First Amendment b. the American Bill of Rights c. the Act of Union 1707 d. all of the other choices are key parts of the British constitution e. none of the other choices are correct
A firm with sales of $1000 has the following balance sheet. Corporation XYZ Balance Sheet as of June 30, 20XX Assets Liabilities and Equity Accounts receivable $200 Accounts payable $200 Inventory 400 Long?term debt 300 Plant 400 Equity 500 $1,000 $1,000 ? If the firm earns 10 percent after taxes on sales and pays no dividends, ? a. Determine the entries for a
new balance sheet for sales of $1,500 using the percent of sales. b. the firm need external financing? c. Construct a new balance sheet using the estimates obtained in a. If necessary, issue new stock to cover any external financing needs. If the firm has excess funds, retire the accounts payable. What will be an ideal response?