When an available-for-sale security is sold, any unrealized gains or losses would need to be reclassified from the Allowance for Change in Fair Value of Investments account in order to avoid double counting any gains or losses recorded in comprehensive income
Indicate whether the statement is true or false
True
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An effective accounting system is designed to provide which of the following to help discover fraud?
a. An audit trail b. Matching of expenses to revenues c. Set of controls d. Set of accounting procedures
Which of the following costs is most likely associated with the commercialization stage of new product development?
A) building or renting a manufacturing facility B) paying groups of target customers for product feedback C) determining the product's planned price, distribution, and marketing budget D) developing a prototype of the product E) identifying target markets
Which of the following is NOT an aspect of the Entrepreneurship Ecosystem described in the chapter?
a. social norms b. physical infrastructure c. entry regulation d. open-access patent databases
________________ is the degree to which rules and procedures are standardized in an organization.
a. Work specialization b. Formalization c. Bureaucracy d. Departmentalization