If an important supplier goes out of business, management reserves can be set aside to cover the resulting costs
a. True
b. False
Indicate whether the statement is true or false
True
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Vendor evaluation consists of an initial screening of proposals then a vendor audit of those who pass the initial screening
Indicate whether the statement is true or false
The ________ is a working paper used by accountants to record the necessary adjustments and provide up-to-date account balances needed to prepare the financial statements
a. trial balance b. None of the answers listed c. work sheet d. journal
In a factory, all of the following would be considered service departments except:
a. Inspection and Packing b. Assembly c. Power d. Human Resources
Full disclosure of all important facts aids in overcoming the limitations of accounting information
Indicate whether the statement is true or false