Multinational corporations do not have the responsibility nor the incentive to follow international accounting standards as there still is no particular set of global standards that are generally accepted worldwide.

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


False

Business

You might also like to view...

Nesbit Co. has two operating (production) departments supported by a number of service departments. The following information was collected for a recent period: ?  Direct Costs  ??MachiningDepartmentAssemblyDepartmentIndirect CostSalaries$122,400$ 85,700$36,700Insurance  20,20011,0005,500Utilities  23,90013,9002,000Depreciation  20,70011,50013,800Maintenance  7,0004,70029,400Office expenses  -0--0-71,100Cost of goods sold  327,600121,200?Indirect costs are allocated as follows: salaries on the basis of sales, office expenses on the basis of the number of employees, and all other costs on the basis of square footage. Additional information about the production departments follows:SquareNumber

ofFootageEmployees Machining14,53578Assembly4,84552Sales for the Machining Department are $724,404 and sales for the Assembly Department are $356,796. Determine the departmental contribution to overhead and the departmental net income for each production department. What will be an ideal response?

Business

How does the “Ethical Culture” survey method of assessing an organization’s ethical performance differ from the assessment method using a code of ethics?

a. It has employees share results of their assessments in small groups. b. It has employees use a Likert scale. c. It has employees independently rate the organization. d. It is only used for organizations that lack a code of ethics.

Business

The cost of merchandise inventory is limited to the purchase price less any purchase discounts

Indicate whether the statement is true or false

Business

To set x-bar chart upper and lower control limits, one must know the process central line, which is the:

A) average of the sample means. B) total number of defects in the population. C) percent defects in the population. D) size of the population. E) average range.

Business