Lee's Lions had to shut down its store in Houston on July 31. This year's operating income or loss from the store before July 31 would be reported on the income statement as part of ________
A) discontinued operations
B) extraordinary items
C) other revenues and expenses
D) income from continuing operations
A
Business
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When goods are transferred from the Work-in-Process Inventory account to the Finished Goods Inventory account, ________
A) total assets and total liabilities increase by the same amount B) total assets of the company remain constant C) total equity and total assets increase by the same amount D) total liabilities increase and total equity decreases by the same amount
Business
The following items are tangible components of a corporate image, except:
A) goods and services sold B) retail outlets where the product is sold C) advertising, promotions, and other forms of communication D) competing businesses
Business