The intentional preparation of misleading financial statements, known as fraudulent financial reporting, can result from all of the following except
A) the misapplication of accounting principles.
B) the manipulation of inventory records.
C) fictitious sales or orders.
D) recording a revenue that has been earned but not yet received.
D
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Michelin Tire Company produces a variety of tires at factories in South Carolina. Name three B2B markets in which Michelin might sell its tires.
What will be an ideal response?
On average, how long will a machine be down and out of service?
In a factory, machines breakdown at an average of 6 machines per hour according to a Poisson distribution. The time a repair person takes to repair the machine is not defined by any probability distribution, but has a mean of 8 minutes and a standard deviation of 3 minutes.
A disadvantage of using a credit card is that:
A. it is riskier than carrying cash because losing the card can cause the credit card issuer to file a case against the cardholder. B. it makes it difficult for the credit card users to track their expenditures. C. it makes it hard for some people to maintain financial discipline. D. many retailers do not offer warranty for products purchased using credit cards.
A bearer instrument can be converted into an order instrument through indorsement.
Answer the following statement true (T) or false (F)