Within a fund, which of the following results from using the current financial resources measurement focus?
a. capital assets will be depreciated
b. property taxes will be recognized on the cash basis of accounting
c. a liability must be reported for unsettled claims, provided payment ultimately will be made
d. long-term assets and liabilities will not be recorded in the fund
d
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Intrinsically motivated people have a compelling drive to succeed, but they are striving for ________ rather than the rewards of success
A) recognition B) acknowledgment C) respect D) appreciation E) personal achievement
Use the "percent of sales method" of preparing pro forma financial statements to determine the
projection for next year's inventory. Make the following assumptions: current year's sales are $27,800,000; current year's cost of goods sold is $17,528,000; sales are expected to rise by 30%. The firm's investment in inventory in the current year is $5,890,200. What is the projection for next year's inventory? A) $5,845,500 B) $7,657,260 C) $4,526,600 D) $6,981,250