The goal of reporting realistic figures and never overstating assets or net income applies to the ________
A) conservatism principle
B) materiality concept
C) disclosure principle
D) consistency principle
A
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For the vertical analysis of the balance sheet, the base amount is also the total of liabilities and stockholders' equity
Indicate whether the statement is true or false
When considering the advertising medium of magazines, which of the following advantages and disadvantages apply?
A. flexible, repeat exposure, inexpensive; but "mass market" and very short exposure B. flexible, timely, local market; but may be expensive, has a short life, and no "pass along" C. very targeted, good detail, good "pass along"; but inflexible and has long lead times D. demonstrations, good attention, and wide reach; but expensive in total, has a lot of clutter, and not always selective audience E. selected audience, flexible, can be personalized; but relatively expensive per contact and hard to retain attention
Chavez Corporation reported the following data for the month of July:Inventories: BeginningEndingRaw materials$27,000$30,000Work in process$16,000$17,000Finished goods$32,000$47,000 Additional information: Raw materials purchases$66,000Direct labor cost$91,000Manufacturing overhead cost incurred$59,000Indirect materials included in manufacturingoverhead cost incurred 8,000Manufacturing overhead cost applied to Work in Process$58,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The adjusted cost of goods sold that appears on the income statement for July is:
A. $188,000 B. $218,000 C. $189,000 D. $203,000
When using a computer, most people spend the majority of their time using ________ applications
A) custom B) end-user developed C) illegal D) standard E) none of the above