The FASB and the IASB are reconsidering the definition of an asset and the criteria for asset recognition
Indicate whether the statement is true or false
T
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An administrator at Lakeside Middle School is interested in examining the probability of a child being late to school. The child is categorized as either late or not late. What type of distribution should the school use to examine this issue?
A. Binomial distribution B. Normal distribution C. Exponential distribution D. Poisson distribution
To maintain a class action lawsuit, a class must be ________ by the appropriate federal or state court.
A. sealed B. patented C. certified D. sequestered
In a make or buy decision, the opportunity cost of capacity could
a. be considered to decrease the price of units purchased from suppliers. b. be considered to decrease the cost of units manufactured by the company. c. be considered to increase the price of units purchased from suppliers. d. not be considered since opportunity costs are not part of the accounting records.
Routinized response behavior is what a consumer does when
A. purchasing an unfamiliar product. B. buying frequently purchased, low-cost items that need little search effort. C. an information search is extensive and may involve consulting with friends and family. D. buying products that require a moderate amount of time for information gathering and deliberation. E. he or she enters the problem recognition stage of the consumer buying decision process.