Answer the following statements true (T) or false (F)
Accounting theory is developed and refined by the process of accounting research.
ANSWER: T
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A large manufacturer of skis and ski accessories has traditionally relied on guesswork to develop forecasts for demand for most of its items. How might this company benefit from using a more formal or proven forecasting technique?
What will be an ideal response?
A person’s behavior style preference is not something most individuals are aware.
a. True b. False
Jamal was recently hired as a sales representative for a pharmaceutical company. He notices that all the other sales reps "pad" their expense accounts by claiming meals with clients that never took place and then pocket the extra money. Jamal figures that since everyone else is cheating on their expense accounts, he might as well do the same. What ethics trap is Jamal falling into?
a. following orders b. competition c. conformity d. lost in a crowd
A fire insurance policy covers losses to the insured as a result of fire and lightning, but not damage from smoke and water.
Answer the following statement true (T) or false (F)