All of the following statements are true except:
a. Both U.S. GAAP and international financial reporting standards (IFRS) require the use of the lower-of-cost- or-market rule to value inventories.
b. U.S. GAAP defines market value as replacement cost.
c. IFRS uses net realizable value with no upper or lower limits imposed.
d. Write-downs of inventory can be reversed in later periods under U.S. GAAP.
d
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The total assets turnover ratio indicates
a. the sales generated from each dollar of assets. b. the portion of the sales dollar left over for the common shareholders after covering all operating costs and subtracting claims of creditors and preferred shareholders. c. the portion of the sales dollar left over for the preferred shareholders after covering all operating costs and subtracting claims of creditors and common shareholders. d. the proportion of total assets, or total financing, provided by common shareholders contrasted with the financing provided by creditors and preferred shareholders. e. the proportion of total assets, or total financing, provided by preferred shareholders contrasted with the financing provided by creditors and common shareholders.
If fixed costs are $250,000, the unit selling price is $125, and the unit variable costs are $73, what is the break-even sales (units)?
A) 3,425 units B) 2,381 units C) 2,000 units D) 4,808 units
When Laura started working in the accounting department, she felt like her boss hovered over her all day and constantly double checked her work. As a result, Laura made sure she always did her work exactly as the boss would like and she double checked her own work so the boss would find no errors. Eventually, she found that her boss stopped hovering and double checking her work. What Laura experienced was _________.
A. positive reinforcement B. extinction C. punishment D. negative reinforcement E. alternative reinforcement
Which of the following statements is (are) true concerning the use of an individual's credit history as an insurance rating factor?
I. Individuals with poor credit histories, as a group, generally file fewer homeowners claims than do individuals with good credit histories. II. A poor credit history can be improved over time, allowing for the purchase of homeowners insurance at a lower premium. A) I only B) II only C) both I and II D) neither I nor II