Corrections to past years' financial statements are called prior-period adjustments

Indicate whether the statement is true or false.

Answer: TRUE

Business

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The function of money that expresses prices and contracts for deferred payments in terms of the monetary unit is referred to as:

a. store of purchasing power b. standard of value c. medium of exchange d. credit money

Business

When a company issues a press release to announce a sizable donation to a national charity, they are using ________ to generate goodwill and maintain a positive corporate image

A) personal selling B) sales promotion C) public relations D) direct and digital marketing E) advertising

Business