Transportation cost depends on the prices offered by different carriers and the extent to which the shipper uses inexpensive and slow, or expensive and fast, means of transportation
Indicate whether the statement is true or false.
Answer: TRUE
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Cash dividends paid on capital stock would be reported in the statement of cash flows in
a. the cash flows from financing activities section b. the cash flows from investing activities section c. a separate schedule d. the cash flows from operating activities section
United Insurance Company specializes in term life insurance contracts. Cash collection experience shows that 30 percent of billed premiums are collected in the month before they are due, 60 percent are collected in the month they are due, and 6 percent are collected in the month following their due date. Four percent of the billed premiums are collected late (in the second month following their
due date). Total billing notices in January were $50,000; in February, $60,000; in March, $66,000; in April, $65,000; in May, $60,000; and in June, $70,000. How much cash does the company expect to collect in May? A) $63,540 B) $66,750 C) $60,000 D) $56,000
Which of the following is/are not true regarding the fair value of long-lived assets?
a. U.S. GAAP does not permit firms to increase the balance sheet carrying values of tangible and intangible long-lived assets when the fair values of their assets increase. b. IFRS permits upward asset revaluations, the recognition of unrealized increases in the fair value of tangible and intangible long-lived assets under certain conditions. c. IFRS requires that firms credit the increase in the tangible and intangible revalued asset's balance sheet carrying value to net income. d. U.S. GAAP firms recognize the increase in the fair value of the tangible and intangible asset only as the firm realizes the value increase through either sale or continuing use. e. all of the above
Physical logistics services now find themselves competing with telecommunications services. This is a result of the instantaneous delivery capability of information-based products
Indicate whether the statement is true or false