In performing a vertical analysis, the base for sales revenues on the income statement is

a. net sales.
b. sales.
c. net income.
d. cost of goods available for sale.

a. net sales.

Business

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Aceton Corporation owns 80% of the outstanding stock of Voctax, Inc. During the current year, Votax made $140,000 in sales to Aceton. How does this transfer affect the consolidated statement of cash flows?

A) the transaction should be included if payment has been made B) only 80% of the transfers should be included because the subsidiary made the sales C) because the transfers were from a subsidiary organization, the cash flows are reported as investing activities. D) because of the intra-entity nature of the transfers, the amount is not reported in the consolidated cash flow statement.

Business

Which of the following is not an attribute of a project?

a. projects are unique b. projects are developed using progressive elaboration c. projects have a primary customer or sponsor d. projects involve little uncertainty

Business