A mental condition that impairs a person's ability to act in a reasonable manner is one type of mental incompetence
a. True
b. False
Indicate whether the statement is true or false
True
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Accounting for revenue when no entry of revenue is made in the accounts until cash is received for the services performed is called
a. matching basis revenue. b. cash basis expense. c. service basis accounting. d. modified cash basis.
The level of production that provides complete utilization of all facilities and personnel, but allows for some idle capacity due to operating interruptions such as machinery breakdowns, idle time and other inescapable inefficiencies is:
a. practical capacity. b. theoretical capacity. c. budgeted capacity. d. normal capacity.
The most effective use of preparation time is to completely preplan the negotiation sequence, planning the tactics for each negotiation stage in advance.
Answer the following statement true (T) or false (F)
The inventory turnover measures the relative size of the inventory and the effectiveness of credit policies
Indicate whether the statement is true or false