In terms of cost behavior, supervisory salaries and direct labor are classified as
a. fixed and variable, respectively.
b. both variable.
c. both fixed.
d. mixed and fixed, respectively.
A
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The accounting life of intangible assets is determined by
a. their legal lives. b. their useful lives. c. their legal lives or useful lives, whichever is shorter. d. the tax life mandated by the IRS.
The bargaining leverage of suppliers is greater when
A. industry members incur low costs in switching their purchases from one supplier to another. B. industry members account for a big fraction of supplier's sales. C. the suppliers' products/services account for a small percentage of industry members' costs. D. there is extensive seller-supplier collaboration. E. the supplier industry is composed of a large number of relatively small suppliers.
A(n) ________ is a document that grants a person the right to enter on another's property for a specified and usually short period of time
A) title insurance B) easement C) license D) deed
Minimizing one's maximum losses is identical to maximizing one's minimum gains
Indicate whether the statement is true or false