Ending inventory is over stated due to an error, purchases were verified to be correct. What is the effect on the current year's income statement?
What will be an ideal response?
Net income would be over stated because cost of goods sold was under stated.
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A company may pay dividends on more than one class of capital stock
Indicate whether the statement is true or false
Which of the following is NOT a disadvantage of electronic methods of data collection?
A) only simple questions can be asked B) low sample control C) low response rate D) only moderate quantities of data can be obtained E) low social desirability
Which merchandising personnel position in a retail chain oversees the execution of merchandise selection and procurement for a particular segment of business?
a. buyer b. associate buyer c. store manager d. divisional merchandise manager
The Consumer Product Safety Act provides for the creation of safety standards but has no power to set penalties for failure to meet these standards.
Answer the following statement true (T) or false (F)