A closely held manufacturing company must disclose all of the following information in audited financial statements except
a. Replacement cost of inventory
b. Pledged inventory
c. LIFO reserves
d. Changes in methods of accounting for inventory
Ans: a. Replacement cost of inventory
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The purpose of test marketing is to:
a. eliminate ideas that are inconsistent with an organization's new-product strategy. b. shorten the development process of a product and reduce costs. c. assess how well various aspects of the marketing mix fit together. d. evaluate a new-product idea before any prototype is created.
Which of the following statements is FALSE?
A) Regardless of the loan structure, the bank may include a compensating balance requirement in the loan agreement that reduces the usable loan proceeds. B) A common type of fee is a loan origination fee, which a bank charges to cover credit checks and legal fees. C) Firms frequently use lines of credit to finance seasonal needs. D) The commitment fee associated with a committed line of credit is designed to decreases the effective cost of the loan to the firm.