What is the effect on net income for the current year if a company fails to record a purchase of materials in transit (FOB shipping point) but includes the materials in physical inventory at year-end?
A) Net income is overstated.
B) Net income is understated.
C) Net income is unaffected.
D) Not enough information is provided to determine the answer.
A
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When Walt Disney Company's executives were planning to build a theme park in France, they firmly believed that the success of McDonald's and Coke as well as their own success in Tokyo ensured the runaway success of their plans
Disney policies prohibit sale or consumption of alcohol inside their theme parks which they also implemented in France. This proved to be a failure since consuming wine with the midday meal is a long-established custom in France. This is most likely a classical example of: A) the "think global, act local" principle. B) being victim to the self-reference criterion. C) a geocentric management orientation. D) miscalculation of the rate of diffusion of innovations in Europe. E) an unbiased perception of existing culture in Europe.
Karen, a software engineer, finds out that some of the laptops that his colleagues are using for software testing have been infected by a type of virus which has been slowing down their work to a large extent. Karen writes a report containing a solution the problem. This type of report is called a(n) _____
A) ?email report B) ?letter report C) ?external proposal D) ?unsolicited proposal
Puamana was established in 1968 as a Hawaii non-profit corporation. Several owners constructed "pop outs" that encroached onto the common areas owned by Puamana. The term "pop out" refers to an expansion of the dwelling by which the exterior walls are
pushed out toward the area beneath the eaves of the building structure. The Board of Directors of Puamana initially assumed that the "pop outs" remained within the boundaries of the respective units because they did not protrude beyond the drip lines of the eaves. However, the Board subsequently discovered that the unit boundaries coincided with the original position of the exterior walls of the dwellings and that the "pop outs" encroached onto the common areas even though they remained under the eaves. Dale W. Hillman was one of the unit owners desiring to construct a "pop out," and he proposed to extend nearly all of his 66-foot exterior wall 2.5 feet outward toward the eaves, creating an additional 165 square feet of floor space. The Board rejected Hillman's proposal unless and until the CCRs could be amended to expressly permit encroachments onto the common areas. On October 19, 1999, the Board recorded a document entitled "Amendment of Puamana Declaration, Covenants, Conditions and Restrictions." The amended CCRs authorized the Board to approve "minor encroachments" of up to 200 square feet per unit. Allan and Barbara Lee and other owners brought suit challenging the authority of the board to amend the CCRs to allow the "pop outs." The Lees also claimed that they enjoyed a scenic view of Kaho'olawe from their third-floor loft, which was blocked when their neighbor, Mark Ciaburri, impermissibly constructed his own third-floor loft. Did the board have the authority to allow the "pop outs" through the amendment?
Sending an Enquiry in ASCII requires the sending of three separate 7-bit characters, the E, the N, and the Q
a. True b. False