Which of the following statements is false with respect to modified accrual accounting?
A. Expenditures for claims and judgments, compensated absences, pensions and landfill closure and postclosure care costs of governmental funds should be recognized to the extent that the liabilities are going to be paid with available resources.
B. Debt service expenditures for principal and interest are recorded when due. This means that debt service expenditures are not accrued, but are recognized and fund liabilities are recorded on the maturity date.
C. Many expenditures are accrued, even in governmental funds.
D. Generally, expenditures are recorded and fund liabilities are recognized when goods and services are received, but only to the extent that there are resources available in the fund.
Answer: D
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The term incremental cost refers to
a. the difference in total costs between alternatives. b. a cost that does not entail any dollar outlay but that is relevant to the decision-making process. c. the profit forgone by selecting one choice instead of another. d. a cost that constitutes expenses to be incurred even though there is no activity.
Which of the following is not a basic operations management activity?
a. Transformation b. Marketing c. Distribution d. Storage
How will an impairment loss of $15,000 relating to goodwill affect the elements of the financial statements?
A. Impairment loss increases B. Retained earnings decreases C. Goodwill decreases D. All of these answer choices are correct.
The maximal flow algorithm:
A) does not require flow on every branch for the final solution. B) may end with capacity remaining at the source. C) may end with capacity at those nodes leading immediately to the destination. D) all of the above