Demand-based pricing relies on information concerning peak demand times and off-peak demand times.
Answer the following statement true (T) or false (F)
True
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Which of the following statements about service departments and their costs is not true?
a. Service departments rarely provide services to other service departments. b. Some service departments may be able to precisely measure the services it provides to other departments. c. Service department costs should be included in total product costs. d. Allocation of service department costs should be made on an equitable basis.
Under the indirect method, gains or losses from the sale of equipment used in operations would appear as adjustments in the cash flows from operating activities section of the statement of cash flows
Indicate whether the statement is true or false
The rule that (1) requires revenue to be recognized when goods or services are provided to customers and (2) at the amount expected to be received from the customer is called the:
A. Objectivity principle. B. Revenue recognition principle. C. Business entity assumption. D. Going-concern assumption. E. Measurement (Cost) principle.
The process of transferring the debits and credits from the journal to the ledger accounts is called ________
a. analysis b. double-entry accounting c. two-column journal d. posting