How many bits would be required to store the word "bit"?
A. One
B. Three
C. Sixteen
D. Twenty-four
D. Twenty-four
A byte is eight bits, and is used to store one letter or symbol of text, so the number of bits divided by eight gives you the approximate number of text characters.
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Select the correct statement about the master budget.
A. The master budget usually includes operating budgets and capital budgets, and pro forma financial statements. B. Preparing the master budget begins with the cash budget. C. The budgeting process usually begins with preparing the strategic budgets. D. The master budget is a group of detailed budgets and schedules representing the company's operating and financial plans for the past accounting period.
Consider the statements that follow.1. Variable selling costs are expensed when incurred.2. The income statement discloses a company's contribution margin.3. Fixed manufacturing overhead is attached to each unit produced.4. Direct labor becomes part of a unit's cost.5. Sales revenue minus cost of goods sold equals contribution margin.6. This method must be used for external financial reporting.7. Fixed selling and administrative expenses are treated in the same manner as fixed manufacturing overhead.8. This method is sometimes called full costing.9. This method requires the calculation of a fixed manufacturing cost per unit.Required: Determine which of the nine statements: A. Relate only to absorption costing.B. Relate only to variable costing.C. Relate to both absorption costing and
variable costing.D. Relate to neither absorption costing nor variable costing. What will be an ideal response?
A general ledger account that is supported by a subsidiary ledger is called a(n) ____________________
Fill in the blank(s) with correct word
Internal control Define the term "internal control" and identify the major components of an internal control system