Which organization, in addition to the Financial Accounting Standards Board (FASB), occasionally issues authoritative rules for financial statements?
a. The Accounting Profession
b. International Accounting Standards Board (IASB)
c. Securities and Exchange Commission (SEC)
d. Internal Revenue Service (IRS)
c
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A company has developed the prototype of a mobile phone which it plans to launch in the next few months. The phone comes equipped with the most advanced technological features
As part of its test marketing efforts, it allows customers to examine and use the prototype and also gathers feedback regarding product features and price. The results of this test marketing effort show that customers are willing to pay at least $500, considering the phone's various features. As such, the company has found out about the customers' ________. A) last paid price B) expected future price C) lower-bound price D) upper-bound price E) typical price
Starling Co is considering disposing of a machine with a book value of $12,500 and estimated remaining life of five years. The old machine can be sold for $1,500. A new high-speed machine can be purchased at a cost of $25,000. It will have a useful life of five years and no residual value. It is estimated that variable manufacturing costs will be reduced from $26,000 to $23,500 if the new machine
is purchased. The total net differential increase or decrease in cost for the new equipment for the entire five years is: A) decrease of $11,000 B) decrease of $15,000 C) increase of $11,000 D) increase of $15,000
The first step in the selling process is:
a. preparing b. approaching c. presenting d. prospecting e. closing
Cloud services are made possible by massive database installations
Indicate whether the statement is true or false