Accounting is an information and measurement system that does all of the following except:
A. Records business activities.
B. Communicates business activities.
C. Helps people make better decisions.
D. Identifies business activities.
E. Eliminates the need for interpreting financial data.
Answer: E
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A firm is said to enjoy economies of scale over the range of output for which the long-run average cost is
a. increasing. b. constant. c. decreasing. d. stagnant.
The billing department is not responsible for
a. updating the inventory subsidiary records b. recording the sale in the sales journal c. notifying accounts receivable of the sale d. sending the invoice to the customer
Airlines are considered a low-contact service when compared to auto repair
Indicate whether the statement is true or false
Discuss how employees assess and, if necessary restore, equity.
What will be an ideal response?