Which of the following is a recurring item?

a. Equity in earnings of nonconsolidated subsidiaries
b. Error of a prior period
c. Discontinued operations
d. Extraordinary gain
e. Cumulative effect of change in accounting principle


A

Business

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A file that stores data used as a standard when processing transactions is

a. a reference file b. a master file c. a transaction file d. an archive file

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Which of the following budgets probably would be prepared immediately after the preparation of the production budget?

a. Cash budget b. Capital expenditures budget c. Selling and administrative expense budget d. Direct materials purchases budget

Business

A common carrier may not limit its dollar liability for luggage lost through its negligence

Indicate whether the statement is true or false

Business

In an organization that is open to ideas from all employees, ________

A) it becomes tougher to implement new information systems B) user-generated content is strictly restricted C) information systems based on ideas from employees will fail D) innovative concepts for information systems can come from any level

Business