How can a company produce both variable and absorption costing information from a single accounting system?
Firms only have one accounting information system. This system will be based on either variable or absorption costing. If the system needs to provide information in both the variable and absorption formats, the system's accounting information can be converted from one format to the other. The conversion requires an adjustment to the product inventory accounts and the amount of product costs charged against the period's income. The conversion is typically easier if standard costing is employed.
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Sinking funds are devices used to force companies to retire bonds on a scheduled basis prior to their maturity. Many bond indentures allow the company to acquire bonds for a sinking fund by either purchasing bonds in the market or selecting the bonds to be acquired by a lottery administered by the trustee through a call at face value.
Answer the following statement true (T) or false (F)
Chait, Ryan, and Taylor suggest nonprofit boards focus their attention on ______.
A. policy B. growth C. monetary goals D. critical issues facing the organization
Which of the following is the oldest type of free zone?
A. free trade area B. free perimeter C. free city D. special economic zone
Self-defense is a defense to a charge of assault.
Answer the following statement true (T) or false (F)