Stock is a(n) ________
a. investor who receives ownership interests in a company
b. share of ownership in a company
c. agreement to lend money that will repaid at a later date
d. portion of a company's earnings
b
Business
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In a manufacturing company, wages and benefits of assembly line workers are period costs
Indicate whether the statement is true or false
Business
An auditor discovered that a clients A/R turnover is substantially lower for the current year than for the prior year. This may indicate that:
a. obsolete inventory has not yet been reduced to fair market value b. there was an improper cutoff of sales at the end of the year c. an unusually large receivable was written off near the end of the year d. the aging of A/R was improperly performed in both years
Business