With advanced technology there is no need to trace information that has been entered into an accounting information system to its source.
Answer the following statement true (T) or false (F)
False
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Based on the following, what is the total direct materials variance?
A) $150 U
B) $300 F
C) $150 F
D) $300 U
Which of the following is considered a good?
A. Cars B. Waiting tables C. Teaching D. All of these
Goodwill
a. is created when a business is purchased at a price below fair value of its net assets. b. is amortized like patents and trademarks. c. refers to an intangible asset of a business that is created from such favorable factors as location, product quality, reputation, and managerial skill. d. is reported in the fixed assets section of the balance sheet.
Profit will depend primarily on which of the following?
a. the amount of revenue that your company can bring in b. both revenue and cost c. the value of the company d. the number of customers generated