The Federal Trade Commission says that a product must be entirely new or changed significantly to be called new and that a product may be called new for only ________ months

At the beginning of 2011, Gannon Company received a three-year zero-interest-bearing $1,000 trade note. The market rate for equivalent notes was 8% at that time. Gannon reported this note as a $1,000 trade note receivable on its 2011 year-end statement of financial position and $1,000 as sales revenue for 2011. What effect did this accounting for the note have on Gannon's net earnings for 2011, 2012, 2013, and its retained earnings at the end of 2013, respectively?

a. Overstate, overstate, understate, zero b. Overstate, understate, understate, understate c. Overstate, overstate, overstate, overstate d. None of these

Administrative budgeting is the rule at public relations agencies

Indicate whether the statement is true or false