Which of the following are common accounting myths? (select all that apply.) select one or more: a. accounting focuses only on math. b. accountants focus only on the past. c. accounting should be taught at culinary schools.

Explain the relationship between consumers and producers in economic growth and activity

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.

You are to receive five gold coins from your great uncle as an incentive to study hard. the coins were originally purchased in 1982. your great uncle will deliver the coins the week after finals (assuming your grades are "acceptable"). the amount your great uncle paid for the coins is a(n): indirect cost. overhead cost. opportunity cost. sunk cost.