When variable costing is used,
a. all product costs are considered to be variable.
b. all period costs are considered to be variable.
c. all product costs are considered to be fixed.
d. product costs are separated into fixed and variable components.
D
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Which of the following is TRUE of outputs in an accounting information system?
A) In a manual system, reports and financial statements can be created using Word documents, Excel spreadsheets, or PowerPoint. B) In a computerized system, the software can generate reports instantaneously that cannot be formatted. C) Examples of outputs in an accounting information system include purchase invoices, bank checks, and sales invoices. D) Since the output in an accounting information system is audited and error-free, it provides the evidence and data for accounting transactions.
Period costs are
A) charged against the revenue of the current period. B) initially recognized on the balance sheet as inventory. C) charged to the period in which the product generates revenue. D) further classified as direct costs and indirect costs.
________ is any interference in the communication process that blocks perfect understanding.
A. Reinforcement B. An amplifier C. Noise D. Ambiguity E. A cue
Which of the following is not an advantage of living in a condo?
A) Limited maintenance B) Building equity for resale and investment C) Direct ownership of a specific unit D) Freedom from neighbors