Which of the following is a false statement regarding cost information and ethical responsibilities?
A. Compliance with Sarbanes-Oxley guarantees that a manager has met all of his or her ethical responsibilities.
B. Sarbanes-Oxley is important for managers who design cost information systems.
C. Managers need to understand that performance measurement and compensation systems can lead to unethical conduct.
D. Managers must be aware of the potential that cost information could be misleading or support fraudulent activity.
Answer: A
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After making four quarterly estimated payments of $3,500, a corporation's actual income tax liability for the year is $17,200 . The year-end adjusting entry would require
a. a debit to Income Tax Payable for $3,200. b. a debit to Cash for $3,200. c. a credit to Cash for $3,200. d. a debit to Income Tax Expense for $3,200.
The power distance cultural dimension in the GLOBE studies is defined as ______.
A. the degree to which cultural norms are clearly defined B. the degree to which gender inequality is viewed C. the degree to which the group expects that power should be shared unequally D. the degree to which the group is expected to take collective action
Which of the following industries is most likely to employ combative promotional efforts?
A. Fast food B. Computer laptops C. Tax-preparation services D. Universities E. Automotive
For custom-made equipment or commercial construction projects, which pricing method is most likely used?
A. Reference B. Premium C. Differential D. Return on investment E. Cost-plus