When a firm has fixed operating costs, operating leverage is present. In that case, an increase in sales results in a more-than-proportional increase in EBIT, and a decrease in sales results in a more-than-proportional decrease in EBIT
Indicate whether the statement is true or false
TRUE
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Everyone has perceptions about the people and events they encounter.
Answer the following statement true (T) or false (F)
Which of the following is TRUE of internal control?
A) A company outside auditor is responsible for the company internal control system. B) One of the major purposes of internal control is to ensure that the assets are safeguarded. C) Internal control procedures tend to diminish the importance of operational efficiency. D) Internal controls are only necessary for public companies.
The practice of public relations did not make much progress during the 19th century
Indicate whether the statement is true or false
Absorption costing is usually used for internal management purposes, and variable costing is usually used for external reporting purposes.
Answer the following statement true (T) or false (F)