Productivity is the total value of all inputs to the transformation process divided by the total value of the outputs produced
Indicate whether the statement is true or false
FALSE
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Which of the following statements is true?
a. Collecting receivables is not part of the accounting cycle; b. Usually, current liabilities are due after two years; c. In the report form of the balance sheet, the assets section is shown next to the liabilities and equity sections; d. The ending owner's equity balance appears on only one financial statement; e. All of these statements are true.
At the end of the fiscal year, an adjusting entry is made that increases salaries payable and increases salaries expense. This entry is an application of which accounting principle?
a. Full disclosure b. Materiality c. Matching d. Realization e. Historical cost
Orphaned customers are best described as the:
A. solid referrals of long-term customers. B. prospects who have declined to make a purchase. C. leads generated through a direct mail program. D. customers of a salesperson who has left the company. E. customers that have failed to pay.
The early common law required privity of contract before a plaintiff could sue a defendant for breach of warranty
Indicate whether the statement is true or false