Record keeping in a standard costing system is simplified because all units transferred out of a department are valued at:
a. Budgeted costs.
b. Standard production cost for each component.
c. Normal costs.
d. Actual production costs.
a
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Which of the following concepts of cash is not appropriate to use in preparing the statement of cash flows?
A) cash B) cash and money market funds C) cash and cash equivalents D) cash and U.S. treasury bonds
Financial services refer to functions provided by organizations that _____.
A. deal with the most efficient management of the human resources B. ensure that regulations of the Sarbanes-Oxley Act are followed by public corporations C. recommend the most environment friendly method of operations to a corporation D. recommend the types of securities to be issued to finance plant expansions E. deal with the management of money
In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and
A. a modification should make the product more consistent with customers' desires. B. competing companies should not be aware of planned product modifications. C. a modification should change customers' desires to provide greater satisfaction. D. management must perceive the modification as a reasonable and necessary action. E. production costs and materials needed should be limited.
In most cases, a contract that prohibits its assignment can still be assigned
Indicate whether the statement is true or false