Under 2-2b rules, which of the following actions would constitute deceptive advertising?
a. advertising too frequently
b. implying that the CPA had the ability to influence an IRS official
c. promising a favorable result without justification
d. implying that the CPA had the ability to influence an IRS official andpromising a favorable result without justification
d
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The most common form of advertainment is product placement
Indicate whether the statement is true or false
Which of the following is/are not true?
a. Firms accumulate information about revenues and expenses during a reporting period to enable the preparation of the income statement. b. Net income for a period increases net assets (assets minus liabilities) and retained earnings. c. Net loss for a period reduces net assets (assets minus liabilities) and retained earnings. d. Net income for a period increases the amounts in Common Stock and Additional Paid-In Capital, a common practice among publicly traded firms. e. none of the above
In order to develop a plan for marketing his new vitamin water, Rashid decides to conduct focus groups with members of fitness centers. This type of research is considered to be
A. target data. B. user data. C. primary data. D. demographic data. E. secondary data.
On January 1, Alistair Manufacturing had a beginning balance in Work-in-Process Inventory of $164,000 and a beginning balance in Finished Goods Inventory of $25,000
During the year, Alistair incurred manufacturing costs of $202,000. During the year, the following transactions occurred: Job C-62 was completed for a total cost of $140,000 and was sold for $157,000. Job C-63 was completed for a total cost of $181,000 and was sold for $212,000. Job C-64 was completed for a total cost $82,000 but was not sold as of year-end. The Manufacturing Overhead account had an unadjusted credit balance of $24,000 and was adjusted to zero at year-end. What was the amount of gross profit reported by Alistair at the end of the year? A) $48,000 B) $72,000 C) $17,000 D) $31,000