From where do ethical preferences originate?
Ethical preferences originate not from legislators or judges, but from an individual's own critical consciousness.
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During 2015, the accounts receivable balance of Dickerson Corp increased. Which of the following statements is true?
a. This indicates that Dickerson sold more than it collected in cash during the period. b. This increase is added to net income in the operating activities section of a statement of cash flows prepared under the indirect method. c. This increase is added to sales recognized on the income statement to determine the cash collections from customers during the period. d. This increase is considered only when the operating activities section of a statement of cash flows is prepared under the indirect method.
Vanguard Company uses accrual accounting. Indicate whether each of the following statements regarding Vanguard's accounting system is true or false.________ a) The recognition of accounting events and the realization of cash consequences must occur in different accounting periods.________ b) The cash consequence of a transaction sometimes precedes its accounting recognition.________ c) Expenses may either be matched to revenues they produce or to periods in which they are incurred.________ d) Vanguard may record accrual transactions, but may not record deferral transactions.________ e) Vanguard is not permitted to make cash sales.
What will be an ideal response?
____________________ refers to the authority of government to regulate business activity for the general welfare of the public
Fill in the blank(s) with correct word
Whenever possible, service department costs should be separated into fixed and variable costs and charged separately to operating departments.
Answer the following statement true (T) or false (F)