The success of public relations in the 21st century will depend largely on how the field responds to the issue of ethical conduct
Indicate whether the statement is true or false
TRUE
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Which of the following is not true about the effect of an error in the reported ending inventory?
a. After two years, the error "washes out"; b. Operating expenses will be wrong; c. Overstated ending inventory causes net income to be overstated; d. Beginning inventory in the following year will also be wrong; e. Reported sales will not be affected
Apex describes its clothing line as, "Elegance and attitude, now as one. For the daily office-goer, who takes pride in what he or she wears everyday, Apex makes sure you get noticed." This exemplifies a ________
A) statement of purpose B) vision statement C) positioning statement D) general need description E) product specification
The term "receivables" includes all
A) money claims against other entities. B) merchandise to be collected from individuals or companies. C) cash to be paid to creditors. D) cash to be paid to debtors.
The following is summary of information presented on the financial statements of a company on December 31, 2017 Account 2017 2016 Current Assets $68,000 $51,000 Accounts Receivable 83,000 78,000 Merchandise Inventory 52,000 45,000 Current Liabilities 77,000 53,000 Long-term Liabilities 34,000 51,000 Common Stock 51,000 42,000 Retained Earnings 41,000 28,000 Net Sales Revenue $526,000 $504,000 Cost of Goods Sold 400,000 398,000 Gross Profit $126,000 $106,000 Selling Expenses 50,000 51,000 Net Income Before Income Tax Expense $76,000 $55,000 Income Tax Expense 30,000 $16,900 Net Income $46,000 $38,100 With respect to current liabilities, a horizontal analysis reveals ________.
A) that current liabilities are 37.93% of total equity B) a 45.28% increase in current liabilities C) a current ratio of 0.88 D) a 31.17% increase in current liabilities