Which of the following should NOT be reported retroactively?
a. Use of an unacceptable accounting principle, then changing to an acceptable accounting principle
b. Correction of an overstatement of ending inventory made two years ago
c. Use of an unrealistic accounting estimate, then changing to a realistic estimate
d. Change from a good faith but erroneous estimate to a new estimate
D
Business
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What occurs when an increase in sales exactly offsets a decrease in price so that total revenue remains exactly the same?
a. highly elastic demand b. fixed elasticity c. inelastic demand d. unitary elasticity
Business
Vanish has a $1.00-off coupon attached to the container that can be easily removed, which is an example of a(n):
A) instant-redemption coupon B) bounce-back coupon C) cross-ruffing coupon D) response-offer coupon
Business