Which of the following is true of the difference between fraud and misrepresentation?
A. Unlike misrepresentation, the injured party in fraud cases has the additional option of suing in tort for damages.
B. Misrepresentation requires knowledge of the falsity of the misstatement, but fraud doesn't.
C. False statements of opinion can be fraud, but not misrepresentation.
D. There is no requirement of materiality in fraud cases, whereas misrepresentation requires materiality.
Answer: A
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During the year, The Core Company purchased $1,700,000 of inventory. The cost of goods sold for the year was $1,600,000 and the ending inventory at December 31 was $330,000 . What was the inventory turnover for the year?
a. 2.9 b. 3.3 c. 5.7 d. 6.1
Customer arrival refers to
A) the point in time when the customer has access to choices and makes a decision regarding a purchase. B) the customer informing the retailer of what they want to purchase and the retailer allocating product to the customer. C) the process where product is prepared and sent to the customer. D) the process where the customer receives the product and takes ownership.
Use the information in Scenario C.1. What is the economic production lot size (ELS)?
A) fewer than or equal to 400 units B) greater than 400 units but fewer than or equal to 480 units C) greater than 480 units but fewer than or equal to 500 units D) greater than 500 units
Which type of analysis could reveal that a company is relying heavily on debt financing?
A. Trend analysis B. Horizontal analysis C. Common size statements D. The fixed asset turnover ratio