A nuncupative will:
A)?Is valid in most states
B)?Is an oral will.
C)?Is a will entirely in the handwriting of the testator.
D)?None of the above
B
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All of the following are examples of subsequent events that would be disclosed in the footnotes to the financial statements except
A) fire or flood loss. B) a litigation settlement. C) a bond issuance after the balance sheet date. D) the write off of a significant uncollectible account.
Notes receivable and cash are examples of short-term financial assets
Indicate whether the statement is true or false
The FASB and the IASB are reconsidering the role of uncertainty, or probability, in the definition, recognition, and measurement of liabilities. Existing recognition criteria include a probable future sacrifice of resources; one issue involves the minimum probability level to warrant recognition of an uncertain obligation as a liability. U.S. GAAP does not specify a minimum probability level,
although the rule-of-thumb in practice is approximately _____ percent. a. 50 b. 60 c. 70 d. 80 e. 90
Use the information in Scenario 9.7. If lead-time increases by three days, what is the reorder point needed to maintain a 98% service level?
A) less than or equal to 2,400 units B) greater than 2,400 units but less than 2,500 units C) greater than 2,500 units but less than 2,600 units D) greater than 2,600 units