On an activity diagram, what is used to show parallel activities?

A contingency was evaluated at year-end and considered to have a reasonable possibility of becoming an actual liability. If this was not reported in the notes to the financial statements, what is the effect on the financial reporting of the company?

A) There would be no effect. B) The liabilities on the balance sheet would be understated. C) The information about the transaction would be inadequately disclosed in the notes. D) The net income of the company would be understated.

What is generally TRUE about class B SKUs in ABC analysis? They represent about:

A) 20 percent of all SKUs and about 80 percent of the dollar usage. B) 80 percent of all SKUs and about 20 percent of the dollar usage. C) 30 percent of all SKUs and about 15 percent of the dollar usage. D) 50 percent of all SKUs and about 95 percent of the dollar usage.