The bank reconciliation is an important part of the system of internal controls
Indicate whether the statement is true or false
True
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Which of the following is not a reason to use predetermined overhead rates?
a. to overcome the problems of assigning overhead to diverse types of products b. to compensate for fluctuations in monthly overhead costs c. to provide a means for assigning overhead during the period rather than at the end of the period d. to smooth out the amount of overhead cost assigned to products when monthly production activity differs
A measure of a company's overall long-term financial health is the debt-to-equity ratio
Indicate whether the statement is true or false
Ralco was preparing Heidi's tax return. In confidence, Heidi revealed some information to Ralco. Under the federal accountant-client privilege, the information Heidi disclosed is protected from disclosure in a criminal action by the U.S. government
a. True b. False Indicate whether the statement is true or false
Which of the following credits is considered a refundable credit?
A. lifetime learning credit B. adoption expense credit C. credit for elderly and disabled D. earned income credit