Jan showed the following financial items in 2007 and 2008:
2007 2008
Salary 22,000 20,000
Payroll taxes 4,000 3,500
Other inflexible expenses 11,000 11,000
Flexible expenses 6,000 5,300
In relation to 2007's savings, Jan's savings in 2008
A)
decreased by $800.
B)
decreased by $200.
C)
increased by $200.
D)
increased by $800.
D
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a. “Objectives of Financial Statements” (Trueblood Committee Report) b. “Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises” (APB Statement 4) c. “A Statement of Basic Accounting Theory” (ASOBAT) d. “Statement of Accounting Theory and Theory Acceptance” (SATTA)
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According to lean philosophy, we should eliminate any activity or process ______.
a. that does not add value to the product or service b. that has a high carbon footprint c. that is likely to be regulated by the government d. that does not conform to ISO standards
In recent years, accountants have been subject to civil lawsuits based on the Racketeering Influenced and Corrupt Organizations Act
a. True b. False Indicate whether the statement is true or false