The bid price is the price that a dealer will pay for a security; the asked price is the price at which
she will sell a security.
Indicate whether the statement is true or false
TRUE
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If a company understates its ending inventory balance for 2016 by $15,500, what are the effects on its net income for 2017 and 2016? Effect on 2017 Net Income Effect on 2016 Net Income
a. Overstated by $15,500 Understated by $15,500 b. Understated by $15,500 Overstated by $15,500 c. Understated by $15,500 No effect d. Overstated by $15,500 No effect
Good internal controls in the revenue cycle should ensure all of the following except
a. all sales are profitable b. all sales are recorded c. credit is authorized d. inventory to be shipped is not stolen
The statutory provisions governing dissolution and liquidation usually prescribe procedures to safeguard the interests of the corporation's creditors. These procedures include:
a. the required mailing of notice to known creditors. b. a general publication of notice. c. the preservation of claims against the corporation. d. All of these.
The decision maker can control states of nature
Indicate whether the statement is true or false