What is the appropriate treatment in an interim financial report for variances arising from the use of a standard costing system?
A. The variances should only be reflected in the interim balance sheet.
B. The variances should always be reflected in the interim income statement but not the interim balance sheet.
C. The variances should always be reflected in gross profit on an interim income statement.
D. The variances are always ignored for interim reporting.
E. The variances expected to be absorbed by year-end should not be reflected in the interim statement.
Answer: E
You might also like to view...
Considering various factors within the system as well as outside the system that may influence the process and outcomes is a description of a characteristic of ______ approaches.
Fill in the blank(s) with the appropriate word(s).
Once a marketing researcher is ready to move beyond preliminary insights to specific, informed questions, the researcher is ready to conduct
A. syndicated marketing surveys. B. qualitative research. C. research design. D. quantitative research. E. data warehousing.
When considering whether or not a company should engage in CSR, it is important to look at the company values. Some companies believe providing a return to shareholders is the sole purpose for the existence of the business
In these companies, believers in CSR will best convince company non-believers with which of the following arguments: A. "CSR is the new trend; in order to keep up in business, we must implement a CSR plan." B. "We can use CSR to build a stronger relationship with our customers." C. "It is simply the right thing to do." D. "CSR initiatives, for example reducing the company's environmental footprint, is shown to reduce costs and add to the bottom line." E. "We should generate an ad campaign that shows that our company thinks ‘green.'"
Which of these marks cannot be registered with the PTO?
A. a manufacturing company's logo B. the name of a restaurant chain C. the flag of the State of Illinois D. the slogan of a shoe company