Revenue can be described as which of the following?

a. all the money that a company has to work with
b. the money from loans, sales, and contributions
c. money gained from the sale of goods or services
d. money gained from sales minus the cost of creating the goods


c. money gained from the sale of goods or services

Business

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Which of the following does "ex officio" authority refer to?

A. Authority by virtue of one's office B. Duty to act within one's authority C. Duty to act with loyalty and good faith D. Conducting the affairs of the corporation with due care

Business

Chiclet Company decides at the beginning of 2014 to adopt the FIFO method of inventory valuation. The company had been using the LIFO method for financial and tax reporting since it inception on January 1 . 2012 . The profit-sharing agreement was in place for all years prior to the year of change, 2014 . Payments under this agreement are not an inventoriable cost. Which of the following

statements regarding the accounting for the profit-sharing agreement in connection with the change from LIFO to FIFO is correct? a. The effects of the change in accounting principle on the profit-sharing agreement must be treated retrospectively. b. The effects of the change in accounting principle on the profit-sharing agreement should be reported only in the period in which the change in accounting principle was made. c. It would be impracticable to determine the effect on the profit-sharing agreement as a result of the change in accounting principle. d. There would be no effect on the profit-sharing agreement as a result of the change in accounting principle.

Business

All of the following are common pseudonyms for lean thinking except?

a. Lean systems b. Lean manufacturing c. Lean marketing d. Lean production

Business

A landlord cannot evict a commercial tenant for failure to pay rent without a court order

Indicate whether the statement is true or false

Business