Which of the following is not a misstatement related to the occurrence assertion for inventory?
A. Consigned goods are included as part of inventory.
B. Unauthorized production activity.
C. Fictitious inventory.
D. Recorded inventory is not on hand because of theft.
B. Unauthorized production activity.
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In the table above, if the exchange rate is equal to $1.00 per pound, then there is a ______, and the exchange rate will______.
a. surplus of pounds, decrease b. surplus of pounds, increase c. shortage of pounds, decrease d. shortage of pounds, increase
A note payable due in two years is a current liability
a. True b. False Indicate whether the statement is true or false
Garcia Company uses the weighted average method in its costing system. For the month of May in the Assembly Department, the equivalent units for conversion costs amounted to 35,000. There were 5,000 units in beginning work-in-process that were 50% complete. During the month, 33,000 units were started and 31,400 were completed and transferred. The ending work in process consists of:
A) 5,000 units B) 7,000 units C) 6,600 units D) 3,600 units
Women in the market can be classified as:
a. an independent market b. a market segment c. a marketing mix d. an industrial market e. the consumption chain