If both purchases and ending inventory are overstated by the same amount, net income is not affected.

The issuing of new securities, mortgages, and other claims to wealth take place in the:

a. secondary market b. money market c. primary market d. securities market

A unit that senior managers isolate from normal corporate operations in order to protect creative individuals and corporate orthodoxy is known as:

a. an R&D center. b. a skunk works. c. a new venture division. d. an innovation engine. e. a heavyweight organization.