If a stock's price/earnings ratio is 14, that means investors are paying $14 for $1 worth of earnings.
Answer the following statement true (T) or false (F)
True
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Which one of the following is an advantage of LIFO?
A) In periods of rising prices, less income tax is paid. B) In periods of rising prices, more holding gains are reported in net income. C) Record keeping and financial statement preparation are easier. D) Conservative income statements and balance sheet disclosures result from falling prices.
In an examination of prospective financial statements, which of the following would not require a revision of prospective financial information?
A. Mathematical errors. B. Inappropriate or incomplete presentation. C. Unreasonable or internally inconsistent assumptions. D. All of the items listed may require a revision of prospective financial information.
Autocratic leaders seek information and opinions from employees and base decisions on this information.
Answer the following statement true (T) or false (F)
The highest court in the land is the Supreme Court of the United States, which is located in Washington DC
Indicate whether the statement is true or false