A cost driver
a. causes fixed costs to rise because of production changes.
b. has a direct cause-effect relationship to a cost.
c. can predict the cost behavior of a variable, but not a fixed, cost.
d. is an overhead cost that causes distribution costs to change in distinct increments with changes in production volume.
B
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Which of the following is the correct formula for cell B9 to calculate the net income?
a) =B2-(B3-B4-B5-B6)-B7-B8
b) =B2+(B3-B4-B5-B6)-B7-B8
c) =B2-B3-B4-B5-B6-B7+B8
d) =B2-SUM(B2:B8)
e) =B2-SUM(B3:B8)
An ad showing how much food a Dixie paper plate can handle and how much more food a Chinet paper plate can handle is an example of comparative advertising
Indicate whether the statement is true or false
The use of the lower-of-cost-or-market method of inventory valuation increases net income for the period in which the inventory replacement price declined
Indicate whether the statement is true or false
All of the following are ways to understate liabilities except:
a. understate accounts payable. b. overstate unearned revenue. c. failure to record warranty obligations. d. omission of contingent liabilities.