Which of the following sets includes only accounting assumptions and conventions?

A) timeliness, prudence, historical cost, and neutrality
B) matching, comparability, period of time, and faithful representation
C) monetary unit, going concern, relevance, and materiality
D) monetary unit, entity, going concern, and recognition


D

Business

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The basic duty of the buyer is to accept and pay for the goods if they conform to the contract.

Answer the following statement true (T) or false (F)

Business

Which of the following is a reason companies use standard costs?

A) to enhance customer loyalty B) to set sales prices of products and services C) to share best practices with other companies D) to ensure the accuracy of the financial records

Business

A(n) ____________________ gambler is one who participates in a gambling event socially and for pleasure

Fill in the blank(s) with correct word

Business

Which of the following statements is true?

A) The complexity of a warehouse operation will depend on the number of SKUs handled, the quantities of each SKU and the number of orders received and filled. B) Most of the activity in a warehouse is material handling. C) A and B are both true. D) Neither A nor B are true.

Business