Which of the following assets could be described as nonphysical?
A) Inventory
B) Cash
C) Trademarks
D) Supplies
C
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Answer the following statements true (T) or false (F)
1) A company is uncertain whether a complex transaction should be recorded as a gain or loss. Under the conservatism principle, it should choose to treat it as a loss. 2) A company is uncertain whether a complex transaction should result in an asset being recorded at $100,000 or at $150,000. Under the conservatism principle, it should choose to show it at $100,000. 3) The consistency principle states that businesses should report the same amount of ending merchandise inventory from period to period. 4) The disclosure principle states that a company should report enough information for outsiders to make knowledgeable decisions about the company. 5) A company discovers that its cost of goods sold is understated by an insignificant amount. It does not need to correct the error because of the conservatism principle.
What is a behavioral interview?
What will be an ideal response?
Globalization and financialization are facilitated by:
A. International Labor Standards B. corporate codes of conduct and the labor movement C. tariffs and quotas D. free-market public policies and advances in information technology
Contract prohibitions against assignments are invalid as a matter of public policy
a. True b. False Indicate whether the statement is true or false