A cost can be an asset or expense depending on whether the future economic benefits have expired or not
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Closing entries are made in the
a. sales journal. b. purchases journal. c. general journal. d. cash receipts journal.
Which of the following conditions would cause the break-even point to increase?
A) Total fixed costs decrease B) Unit selling price increases C) Unit variable cost decreases D) Unit variable cost increases
When using just-in-time for nonmanufacturing processes,
a. only one product can be identified per department. b. centralized departments allow elimination of waiting time. c. just-in-time cannot be used for nonmanufacturing processes. d. the customer serves as the "product" of the process.
________ means separating products into grades and qualities as desired by different target markets.
A. Accumulating B. Bulk-breaking C. Sorting D. Assorting E. Discrepancy of quality