Which of the following assumes that financial statements of a business can be prepared for specific periods?
A) matching principle
B) revenue recognition principle
C) time period concept
D) adjusting entry principle
C
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Using the big job boards such as Monster or CareerBuilder to locate an open position is a waste of time
Indicate whether the statement is true or false
Which of the following is the most common system for distributing consumer products in the United States?
A. direct channel system B. traditional channel system C. vertical marketing system D. horizontal marketing system E. None of these answers is correct.
The maturity of most bank loans is short term. Bank loans to businesses are frequently made as 90-day notes which are often rolled over, or renewed, rather than repaid when they mature. However, if the borrower's financial situation deteriorates, then the bank may refuse to roll over the loan.
Answer the following statement true (T) or false (F)
Prime costs are comprised of:
A. direct materials and direct labor. B. direct materials and indirect materials. C. direct materials and manufacturing overhead. D. direct materials, direct labor, and manufacturing overhead. E. direct labor and manufacturing overhead.