List two disadvantages of using a traditional cost accounting system
Cost allocations may be inaccurate; there is a time lag in reporting; information is reported in financial terms; there is an emphasis on standard cost.
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The auditor is most likely to verify accrued commissions payable in conjunction with the:
A. verification of employees. B. examination of trade accounts payable. C. sales cutoff review. D. review of post balance sheet date disbursements.
Net sales is equal to sales minus cost of merchandise sold
Indicate whether the statement is true or false
All of the following are categories of balanced scorecard performance measures except:
a. Financial perspective b. Learning and growth c. Regulatory environment d. Internal business processes
Marketing should
a. replace management's organizational goals with those that are target audience focused b. support management c. change the mission statement d. modify organizational objectives e. challenge any organizational decision that isn't target audience focused