The major disadvantage of the completed-contract method as compared with the percentage-of-completion method is that total net income over the life of the construction contract is normally smaller under the completed-contract method.

A company's stockholders equity consisted of $7 par common stock, 200,000 shares authorized and 100,000 shares issued. The Paid- in capital in excess of par had a balance of $160,000. There were 2,000 shares held in treasury at a total cost of $16,000. If the total stockholders equity is $974,000, determine the balance of retained earnings.

a.$130,000 b.$128,000 c.$114,000 d.$860,000

While researching a proposal you find a case study demonstrating that your supposedly cost-cutting measure might actually be more expensive in the long run

If you fail to address this information in your report, you are committing an ethical error of omission. Indicate whether the statement is true or false.