Changes on a net worth statement are directly affected by changes on the corresponding what?
A) Investment
B) Tax
C) Bank
D) Budget
E) Net worth
D) Budget
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Which of the following is true about market-nichers?
A) They are market followers in small markets. B) They tend to have high manufacturing costs. C) Their return on investment exceeds that in larger markets. D) A nicher achieves high volume as against a mass marketer that achieves high margin. E) They usually experience long-term losses.
Which amortization method should be used for intangibles that are amortized?
A) a method based on the expected pattern of benefits to be produced by the asset B) a method based on an annual review for impairment C) the straight-line method; all others are inappropriate D) any method is appropriate
Under which circumstance would one less closing entry than usual be made?
a. When the Retained Earnings account is zero prior to posting of closing entries b. When a net loss has been suffered c. When revenues have not yet been collected d. When net income is zero
Unilateral rescission of a contract constitutes a breach of that contract
Indicate whether the statement is true or false