When using a speaker phone, it is acceptable to let others sit in on the conversation as long as everyone knows who is in attendance
Indicate whether the statement is true or false.
TRUE
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In U.S. v. LaGrou Distribution Systems, the defendant-company suffered from an extremely serious rat infestation. Stewart, the president of LaGrou, defended, saying he had no specific knowledge of meat contamination and therefore he was not culpable. Which of the following was the result?
A. Stewart was found guilty because he knew of the rat problem and did not do all that could be done to control the problem. B. Stewart was found guilty because even though his subordinates hid the problem from him, they did so in the normal course of business, thus making senior management liable. C. Stewart was found not guilty because he recognized the problem and instructed employees to work daily to control the problem. D. Stewart was found not guilty because the court recognized that when 20 million pounds of meat are stored in a facility, it is impossible to control rats that target the meat.
A stock split normally increases total stockholders' equity
Indicate whether the statement is true or false
As a general rule, revenues should not be recognized in the accounting records when earned, but rather when cash is received.
Answer the following statement true (T) or false (F)
Absorption costing conforms with generally accepted accounting principles
Indicate whether the statement is true or false