Which statement is true concerning gains and losses?
a. Gains and losses are reported on the balance sheet in the Assets and Liabilities sections, respectively.
b. Gains and losses are special types of revenues and liabilities that are reported on the income statement.
c. The amounts of gains and losses are included in the calculation of the current ratio, in the numerator and denominator, respectively.
d. None of these choices.
d
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According to the product life cycle theory, trade between countries is caused by
a. diseconomies of large scale production. b. differences in per-capita income levels. c. the occurrence of monopolies and oligopolies. d. changing patterns of comparative advantage.
An adjusting entry could not consist of:
a. A debit to a liability and a credit to revenue. b. A debit to an expense and a credit to a liability. c. A debit to an expense and a credit to an asset. d. A debit to an expense and a credit to revenue.
The ______ stage of cultural adaptation takes place soon after arrival in the new country when everything is exciting and novel.
What will be an ideal response?
The three manufacturing cost elements are direct materials, direct labor, and overhead
Indicate whether the statement is true or false