Changing from LIFO to FIFO over two accounting periods could be viewed as a violation of which accounting concept or principle?
A) Conservatism
B) Consistency
C) Materiality
D) Entity
B) Consistency
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Value chain analysis distinguishes between primary activities and support activities
Indicate whether the statement is true or false
Approximately what percentage of firms indicated that they had exchanged transactions with their trading partners electronically?
a. 10% b. 20% c. 60% d. 80%
Algood Corporation manufactures numerous products, one of which is called Omicron09. The company has provided the following data about this product:?Unit sales100,000?Selling price per unit$19.00?Variable cost per unit$14.00?Traceable fixed expense$430,000Required:a. What net operating income is the company earning now on its sales of Omicron09?b. Management is considering decreasing the price of Omicron09 by 5%, from $19.00 to $18.05. The company's marketing managers estimate that this price reduction would increase unit sales by 15%, from 100,000 units to 115,000 units. Assuming that the total traceable fixed expense does not change, what net operating income will Omicron09 earn at a price of $18.05 if this sales forecast is correct?c. Assuming that the total traceable fixed
expense does not change, how many units of Omicron09 would Algood need to sell at a price of $18.05 to earn the same net operating income that it currently earns at a price of $19.00? (Round your answer up to the nearest whole number.) What will be an ideal response?
By 2050, the average U.S. resident will be from a non-European background.
a. true b. false