Prior to making decisions, companies often collect information through a series of steps called the ___________________________________
Fill in the blank(s) with correct word
research process
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An expense is an inflow of assets resulting from the sale of goods and services
a. True b. False Indicate whether the statement is true or false
Rients Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for October. Fixed Element per MonthVariable Element per Customer ServedActual Total for OctoberRevenue $4,100$182,900Employee salaries and wages$42,300 $1,300$98,800Travel expenses $700$30,500Other expenses$31,500 $31,900?When the company prepared its planning budget at the beginning of October, it assumed that 39 customers would have been served. However, 44 customers were actually served during October.?The spending variance for "Travel expenses" for October would have been closest to:
A. $3,200 U B. $300 U C. $3,200 F D. $300 F
The financial statement that reports revenues and expenses is the:
A. income statement. B. balance sheet. C. statement of cash flows. D. statement of retained earnings.
On January 1, Year 1, Friedman Company purchased a truck that cost $48,000. The truck had an expected useful life of 8 years and an $8,000 salvage value. Friedman uses the double-declining-balance method. What is the book value of the truck at the end of Year 1?
A. $40,000 B. $36,000 C. $43,000 D. $38,000