The computer has made the perpetual inventory system more popular and easier to apply
Indicate whether the statement is true or false
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Which of the following is a true statement?
a. Predictive value refers to usefulness of inputs for predictions rather than being an actual prediction itself. b. Timeliness complements rather than conflicts with the other aspects of relevance because information is more complete and accurate if it is timely. c. The conceptual framework stressed predictive value rather than the importance of decision-making by outside users. d. Timeliness and predictive value are the two main aspects of relevance.
When the direct write-off method is used, the entry to write-off a specific account would:
A. increase net income. B. decrease Accounts Receivable and decrease net income. C. increase Accounts Receivable and increase net income. D. have no effect on net income.
Which of the following is NOT a disadvantage of simulation?
A) time compression B) good simulation models can take a long time to develop C) repetitive approach D) all input must be user generated E) All of these are disadvantages to simulation.
For fraud to occur, seller's talk must be involved
Indicate whether the statement is true or false