Answer: Quick ratio.
Explanation:
The quick ratio(QR) also known as the acid test ratio, is a measure of the assets a business posseses that can quickly be converted to cash to settle current liabilities/costs.
The formula for QR is:
QR = (cash/equivalent+marketable securities+accounts receivable) ÷ current liabilities
The reported ending inventory was $43,112 thousand. If FIFO were used exclusively, the ending inventory would have been $6,964 thousand higher than reported, or $50,076 thousand.
Inventory refers to all the items, goods, goods, and materials that a business holds for sale in the market to make a profit. Example: If a newsagent uses a vehicle to deliver newspapers to customers, only the newspapers are considered inventory. A car is treated as an asset.
The manufacturer has three types of inventory. There are raw materials (awaiting processing), work in process (processed), and finished goods (preparing for shipment). The LIFO method assumes that the most recently purchased inventory units are sold.
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Answer:
States audit provides reasonable basis for the opinion.
Explanation:
The auditor performs the audit to assure certain things about the financial statements of the company. As like:
- The financial statements represent true and fair view of the affairs of the company.
- There is no false presentation in the company's financial statements.
- The company complies with all the presentation standards for financial statements as stated by US GAAP.
This assures that the audit of financial statements do not provide any basis of opinion, rather the auditor presents his opinion on financial statements.
Answer:
D) an ineffective marketing plan.
Explanation:
Product liability is defined as the liability that manufacturer bears when he puts defective product in the hands of the consumer.
Manufacturers are liable for damages that occur from the use of their products. They are also responsible for providing adequate instructions on use of the product and warning of adverse effects a user can experience.
SmartTalk, Inc produces cell phones and related accessories. They have product liability when there is a manufacturing defect, design defect, and inadequate warning on use of the product.
However the company does not have product liability for ineffective marketing as this is related to how well the company sells the product and not if the product is defective.
Answer:
Yes this could be counted as GDP
Explanation: