Testing a sample of repairs and maintenance expense items to ensure that they were properly classified as repairs as opposed to property, plant, and equipment tests which of the following assertions for the repairs and maintenance expense account?
A. Occurrence.
B. Completeness.
C. Cutoff.
D. Authorization.
A. Occurrence.
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An ordinary annuity is if the cash flows occur on the first day of each period
Indicate whether the statement is true or false
The internal rate of return method uses cash flows rather than net income.
Answer the following statement true (T) or false (F)
Which of the following is a weakness of the average-cost approach?
A. It does not add a reasonable markup to the average cost of a product. B. It ignores competitors' costs and prices. C. It is not commonly used. D. It does not consider historical values. E. It is a complex method.
Strategic planning consists of two parts: a firm's mission and objectives and its strategies.
Answer the following statement true (T) or false (F)