A given ratio is always computed the same way, no matter what the source
Indicate whether the statement is true or false
F
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Which of the following statements about management or financial accounting is false?
a. Financial accounting must follow GAAP. b. Management accounting is not subject to regulatory reporting standards. c. Both management and financial accounting are subject to mandatory recordkeeping requirements. d. Management accounting should be flexible.
A check drawn on a bank is an order to pay a sum of money and an authorization to charge the amount to the drawer's account. The drawer may countermand this order by which of the following?
A) A canceled check B) A stop payment order C) A banker's acceptance D) A time draft
Entry modes may be classified by their risk/reward profile. In this context intermediate modes represent a sharing of the risks and rewards between two or more firms. True/False?
(a) True (b) False
Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: AverageCost per UnitDirect materials$4.85Direct labor$4.20Variable manufacturing overhead$1.55Fixed manufacturing overhead$9.00Fixed selling expense$3.15Fixed administrative expense$1.80Sales commissions$0.50Variable administrative expense$0.45 If the selling price is $25.00 per unit, the contribution margin per unit sold is closest to:
A. $15.95 B. ($0.50) C. $5.40 D. $13.45