Generally, a physical count of inventory is performed annually in both a perpetual inventory system and a periodic inventory system.
Answer the following statement true (T) or false (F)
True
An annual physical inventory count is required in a periodic system to adjust the inventory account and determine the cost of goods sold. Annual physical inventory counts are performed when a perpetual system is in use to ensure the accuracy of the accounting records and estimate shrinkage.
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Factor scores should be computed if the goal of factor analysis is to use the results in subsequent multivariate analysis
Indicate whether the statement is true or false
The Securities Act of 1933:
A. requires that all material information about the issuer be disclosed. B. is concerned primarily with private distributions of securities and does not provide provisions to cover fraudulent sale of securities. C. regulates the sale of securities while they are passing from the hands of the issuer into the hands of the private investors. D. requires that issuers selling securities publicly make necessary disclosures at the time the issuer sells the securities to the public.
A person who purports to act as agent for a principal whom both the agent and the third party know to be wholly incompetent is personally liable on a contract entered into with a third person on behalf of such a principal
Indicate whether the statement is true or false
Advantages of leasing a vehicle include all of the following except
A) no substantial down payment. B) don't have to worry about resale of the car when you are finished with it. C) less hassle than purchasing a vehicle. D) no maintenance costs.