ABC analysis is based on the presumption that carefully controlling all items is necessary to produce important inventory savings
Indicate whether the statement is true or false
FALSE
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Trends in cost management/cost accounting include all of the following except:
a. reductions in the administrative costs of gathering data b. a trend toward job order cost systems and away from process cost systems c. adding a fourth cost category called direct technology d. reduction in the direct labor cost component
Suppose the money demand function is MD = P× [(0.25 ×Y) ? (100 ×i)],where Y is expressed in billions of dollars and i is expressed in percentage points. The term [(0.25 ×Y) ? (100 ×i)] is called
A. the nominal money-demand function. B. the nominal money-supply function. C. the real money-supply function. D. the real money-demand function.
Which of the following research areas hypothesizes that management attempts to maximize its own welfare by minimizing costs of monitoring and contracting?
a. Information economics b. Critical accounting c. Capital markets research d. Agency theory
During the year, Greta's mountain cabin was almost completely destroyed by a fire started in the kitchen. She had adjusted gross income of $110,000 in 2018 and related data with respect to the cabin follows: Cost basis:$121,000Value before casualty:$155,000Value after casualty:$15,000Greta was partially insured for the loss and in 2018 she received a $100,000 insurance settlement. What is Greta's allowable casualty loss deduction for 2018?
A. $20,000. B. $9,900. C. $35,900. D. $0.