Which statement is not correct? The general ledger master file
a. is based on the firm's chart of account
b. contains a record for control accounts
c. is an output of the Financial Reporting System (FRS)
d. supplies information for management decision making
C
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Companies in the same industry are not required to use the same methods to value inventory and to depreciate similar assets
Indicate whether the statement is true or false
The number of locations a firm needs and their sizes depends on ______.
A. government regulations B. ISO certification standards C. target markets D. employee preferences
Which of the following is the age that an individual feels?
A) life stage B) chronological age C) lifestyle D) life cycle E) cognitive age
Shareholders of an S-corporation are taxed as if they were owners in a partnership.
Answer the following statement true (T) or false (F)