The cost of equipment might include all of the following except:
A. Installing cost.
B. Invoice cost.
C. Assembling cost.
D. Unpacking damage repair cost.
E. Testing cost.
Answer: D
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If a check of the customer master data shows that the goods requested on a customer order are not in stock, an exception routine called a back order is initiated
Indicate whether the statement is true or false
Which assertions may be tested for the "transactions and events" category of management assertions?
A. Existence, rights and obligations, accuracy, authorization, and completeness. B. Occurrence, completeness, rights and obligations, accuracy, cutoff, and classification. C. Existence, completeness, rights and obligations, accuracy, cutoff, classification, and presentation. D. Occurrence, completeness, authorization, accuracy, cutoff, classification, and presentation.
For which type of insurance policy is choosing an insurance company with a high rating the most important?
A) Disability insurance B) Automobile insurance C) Homeowner's insurance D) Life insurance
The finance officer of a small city has heard that certain items of cost may be allowable under federal grants, even though they were not incurred specifically for the grant. To what source could the finance officer go to determine what costs are allowable under federal grants? Why do you think the federal government specifies the allowability of costs?
What will be an ideal response?