Which statement about job order cost systems is false?
a. For a service business, a finished goods account is not necessary.
b. A job order cost accounting system may be used for a professional service business.
c. None of these statements is false.
d. For a service business, Cost of Services is similar to the cost of merchandise sold account for a merchandising business.
c
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Unearned Revenue is reported as a(n) ____________________ on the balance sheet
Fill in the blank(s) with correct word
The Shasta Corporation began operations in 2018. Shasta's portfolio of minority passive investments reported the following on December 31, 2018: Equity InvestmentsCost$450,000Fair value$395,000Which of the following is correct with respect to the accounting for Shasta's investment portfolio?
A. Net income was decreased $55,000 during 2018. B. Net income and total stockholders' equity were decreased $55,000 as of December 31, 2018. C. Net income and total stockholders' equity were increased $55,000 as of December 31, 2018. D. Net income was increased $55,000 during 2018.
For some types of assets, such as plant, property and equipment, asset growth typically ____________________ future sales growth
Fill in the blank(s) with correct word
Which of the following sections of the statement of cash flows includes activities that increase and decrease long-term liabilities and stockholders' equity?
A) the financing activities section B) the operating activities section C) the investing activities section D) change in cash section