As activity increases, the fixed cost per unit increases while the variable cost per unit remains constant.
Answer the following statement true (T) or false (F)
False
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May an accountant plan and perform an engagement to compile or review the financial statements of a not-for-profit entity if the accountant is unfamiliar with the specialized industry accounting principles?
A. Neither a compilation nor a review could be performed without the specialized knowledge. B. Only a review could be performed without the specialized knowledge. C. Both a compilation and a review could be performed without the specialized knowledge. D. Only a compilation could be performed without the specialized knowledge.
To offer a trade discount, a company must print a special catalog each time there is a change in prices
Indicate whether the statement is true or false
If a financial statement is labeled "pro forma" this means that the statement was prepared by a professional accountant (usually the firm's auditor) following a prescribed format.
Answer the following statement true (T) or false (F)
A company with no investment outside its home country other than the direct purchase of products and services is referred to as a(n) ________ company
A) international B) outsourced C) offshored D) multinational E) global