Net sales is equal to sales minus cost of merchandise sold
Indicate whether the statement is true or false
False
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Which of the following categories of investments can be both debt and equity securities?
A) Available-for-sale securities B) Trading securities C) Held-to-maturity securities D) Both available-for-sale and trading securities
Indirect costs are often pooled, and not allocated individually because:
A. individual allocation would be more timely. B. the benefits of individual allocation of indirect costs are greater than the costs. C. individual allocation would be tedious. D. individual allocation would be more accurate.
A purchases budget
a. does not reflect early payment discounts granted by vendors. b. is the same thing as a production budget. c. is needed only if a firm does not pay for its merchandise in the same period as it is purchased. d. is affected by a firm's inventory policy only if the firm purchases on credit.
Despite their interest in a lawsuit, third parties may not become parties to the lawsuit
Indicate whether the statement is true or false