A cash register tape would be a source document for which of the following?
a. recording a purchase of inventory on credit
b. recognizing a cash sale
c. recording an invoice
d. recording payroll
b
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A basic concept of variable costing is that period costs should be currently expensed. What is the rationale behind this procedure?
a. Period costs are uncontrollable and should not be charged to a specific product. b. Period costs are generally immaterial in amount and the cost of assigning the amounts to specific products would outweigh the benefits. c. Allocation of period costs is arbitrary at best and could lead to erroneous decision by management. d. Because period costs will occur whether production occurs, it is improper to allocate these costs to production and defer a current cost of doing business.
Which of the following best describes the Restatement of the Law of Contracts?
A) A summary of the constitutional provisions affecting contract law B) The supreme legal authority for contract law C) A compilation of contract law that is not itself contract law, but is often referred to by judges D) A law that has been adopted, at least in part, by every state
Employers are legally required to treat pregnancy the same way they treat any other medical disability.
Answer the following statement true (T) or false (F)
What is meant by a strategic perspective?
What will be an ideal response?