Answer the following statements true (T) or false (F)
1. Trading securities are shown as long-term assets on the Balance Sheet.
2. Available-for-sale securities are reported at their current market value, and any increases or decreases in market value are reported as part of net income.
3. Long-term assets usually begin with the listing of natural resources first.
4. GAAP does not allow property, plant, and equipment to be shown at net book value on the Balance Sheet.
5. Intangibles, such as patents and copyrights, are generally listed after property, plant, and equipment, as well as after natural resources, on a company's long-term assets portion of the Balance Sheet.
1. FALSE
2. FALSE
3. FALSE
4. FALSE
5. TRUE
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The ending inventory for Wyeth Company was overstated by $6,000 in 2014 . The overstatement will cause Wyeth Company's
a. retained earnings to be understated on the 2014 balance sheet. b. 2015 balance sheet not to be misstated c. cost of goods sold to be overstated on the 2014 income statement. d. cost of goods sold to be understated on the 2015 income statement.
Once MPR documents have been prepared and a connector list assembled, then it is time to
A) purchase advertising time and space. B) sell the story. C) perform audience research. D) evaluate the MPR campaign. E) agree on the media mix.
An ad headline for Fantasia ice cream in a local newspaper reads, "How can you relive your childhood this summer?" The only other information in the ad is a list of locations of Fantasia ice cream parlors in the city. This ad is
A. designed to let the target audience draw their own conclusions. B. designed to express a two-sided message. C. effective irrespective of the context of the advertising medium. D. an example of a rational appeal. E. an example of an appeal based on refutation.
Which of the following is a similarity between the foreign substance food test and the consumer expectation test?
A) They are both used to determine a buyer's knowledge of a particular food product. B) They are both used to determine a buyer's interest in a particular food product. C) They are both part of the implied warranty of fitness for human consumption. D) They are both part of the express warranty an eatery provides.