In a process costing system, manufacturing overhead cost is also called conversion cost.

Answer the following statement true (T) or false (F)


False

Business

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Customer information in a CRM system should be constantly updated

Indicate whether the statement is true or false

Business

On May 18 of last year, Carter sells unlisted stock with a cost of $24,000 for $60,000. Carter collects $20,000 initially and is scheduled to receive $10,000 each year for four years starting this year plus an acceptable rate of interest. After receiving the first $10,000 scheduled installment payment, Carter is unable to collect any further payments. After incurring legal fees of $1,000, Carter recovers a portion of the stock valued at $26,000. As a result of the repossession, Carter must report

A. ordinary income of $13,000. B. ordinary income of $9,000. C. capital gain of $9,000. D. capital gain of $13,000.

Business

Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as ________.

A. values B. beliefs C. customs D. culture E. ethics

Business

Marginal cost-benefit analysis states that financial decisions should be made and actions should be taken only when the added benefits exceed the added costs

Indicate whether the statement is true or false

Business