Which of the following statements is true when referring to fixed costs?
A. As volume increases, unit fixed cost and total fixed cost will change.
B. Committed fixed costs arise from the annual decisions by management.
C. Discretionary fixed costs can often be reduced to zero for short periods of time without seriously impairing the long-run goals of the company.
D. Fixed costs increase in total throughout the relevant range.
Answer: C
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When the amount for a debit entry in a journal is transferred to a specific account in the general ledger, it must be recorded
a. as a debit to that account in the general ledger. b. as a credit to that account in the general ledger. c. in sum only, without any regard for debit or credit, since the general ledger accounts do not have spaces for debit and credit entries. d. cannot be determined without further information.
Sin taxes are:
A. taxes assessed by religious organizations. B. taxes assessed on certain illegal acts. C. taxes assessed to fund a specific purpose. D. taxes assessed to discourage less desirable behavior. E. None of the choices are correct.
Training employees in ethics is a factor that reduces a company's sentence under the federal sentencing guidelines
Indicate whether the statement is true or false
In ________, the parties in conflict believe that they have a "fixed pie" of resources that they need to divide.
A. distributive negotiation B. compromise C. accommodation D. integrative bargaining E. collaboration