Proprietary funds use the current financial resources measurement focus and modified accrual basis of accounting.
Answer the following statement true (T) or false (F)
False
Proprietary funds use the accrual basis of accounting and the economic resources measurement focus.
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Which of the following is the first step that an organization should take in creating or redefining its service environment?
A. Conducting an inspection of its systems and practices B. Reviewing the manner in which external customer needs are addressed C. Empowering its employees to better serve customers D. Making sure it knows who its customers really are
What is the last step in the development of guiding principles for a firm?
What will be an ideal response?
Manufacturing costs other than direct materials and direct labor, and are not readily traceable to specific units or batches of production are called:
A. Factory overhead. B. Nonmanufacturing costs. C. Administrative expenses. D. Preproduction costs. E. Prime costs.
New market space is best described as
a. markets that are new to the company. b. markets and products that are new to the company. c. customers who are underserved by current offerings in the market or previously unidentified market segments. d. a critical source of competitive advantage e. an opportunity that is best left to established companies.