Accruals are "free" capital in the sense that no explicit interest must normally be paid on accrued liabilities.
Answer the following statement true (T) or false (F)
True
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Stockholders' equity is owners' equity in a corporation
a. True b. False Indicate whether the statement is true or false
Which of the following accounting principles best justifies accelerated depreciation accounting?
A) Materiality B) Matching C) Full disclosure D) Consistency
To facilitate production, it is necessary to ______.
A. aggregate items to product families B. disaggregate products to end items C. create pegging report D. create where-used analysis
A contingency was evaluated at year-end
Management felt it was probable that this would become an actual liability and the amount could be reasonably estimated. If this is reported on the balance sheet, it could be considered a violation of generally accepted accounting principles. Indicate whether the statement is true or false