In small organizations the average executive pay to worker wage rate is ____________________, while in large organizations this same ratio is often ____________________.
Fill in the blank(s) with the appropriate word(s).
15:1, 400:1
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International accounting standards use the term provision for those contingent items that must be recorded on the balance sheet
a. True b. False Indicate whether the statement is true or false
Actually counting the goods on hand at the end of the accounting period and determining the cost of these goods by reviewing the accounting records is called
a. an adjusting entry; b. a physical inventory; c. cost of goods sold; d. freight-in; e. the closing process.
Which of the following is/are false?
a. Firms do not necessarily recognize revenues when they receive cash b. Firms do not necessarily recognize expenses when they disburse cash. c. Net income will not necessarily equal cash flow from operations each period. d. A profitable firm will likely borrow funds in order to remain in business, but eventually operations must generate cash to repay the borrowing. e. None of the above are false
The best method for assigning costs to the baseline under the 50/50 rule is to establish frequent checkpoints over the duration of the work package and assign completion percentages in dollar terms.
Answer the following statement true (T) or false (F)