Which of the following statements best describes the fallacy of composition?
A) The assumption that when one event precedes another, the first caused the second.
B) The assumption that what is true of a part is true also of the whole.
C) The assumption that what is true for the whole is true for each of the parts.
D) The ignoring or distorting of reality to hold onto assumptions.
B
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Mars Chemicals Company uses the indirect method to prepare its statement of cash flows
Refer to the following portion of the comparative balance sheet: Mars Chemicals Company Comparative Balance Sheet December 31, 2017 and 2016 2016 2015 Increase/(Decrease) Common Stock $33,000 $2,500 $30,500 Retained Earnings 154,000 155,000 (1,000 ) Treasury Stock (8,500 ) (5,200 ) (3,300 ) Total Equity $178,500 $152,300 $26,200 Net Income for the year was $60,000. Which of the following statements is true of Taylor's statement of cash flows for 2016? A) The company issued stocks for $33,000. B) The company declared $61,000 as dividends. C) The company purchased treasury stock for $8,500. D) The net cash flow from financing activities is $178,500.
List three types of reports commonly used to monitor and control operations in business
What will be an ideal response?