Which one of the following statements is true?
a. The flow of inventory costs should match the physical flow of the merchandise.
b. Accounting standards require that merchandise costs be specifically traced to units left in inventory and to units that have been sold.
c. Accountants have developed methods which make assumptions concerning how costs should be assigned to inventory and cost of goods sold.
d. Alternative inventory cost flow assumptions have the same effect on the amount of net income reported.
c
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The entry to adjust for corporate income taxes includes
a. a debit to Income Tax and a credit to Income Tax Expense; b. a debit to Income Tax Expense and a credit to Income Tax; c. a debit to Income Tax Expense and a credit to Income Tax Payable; d. a debit to Income Tax and a credit to Income Tax Payable; e. a debit to Income Tax Payable and a credit to Cash
A marketer is interested in segmenting a business market on ________ if the marketer intends to eventually segment the market based on loyalty and attitudes toward risk
A) situational factors B) purchasing approaches C) personal characteristics D) operating variables E) demographic variables
A company introduced the Funday film to compete with lower-priced brands, but it found many of its regular customers buying Funday instead of its usual, higher-priced film. The company experienced ________
A) an upward line stretch B) a product line contraction C) disintermediation D) cannibalization E) filling in
A decentralized business organization is one in which all major planning and operating decisions are made by top management
Indicate whether the statement is true or false