U.S. GAAP and IFRS require firms to account for business combinations using the _____ method
a. purchase
b. pooling-of-interests
c. uniting-of-interests
d. equity
e. cost
A
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If the cost of materials purchased in the period is $200,000, and $185,000 is used in the manufacturing process, then the unused $15,000 is ________
a. part of work in process inventory in the period b. classified as materials inventory on the balance sheet c. part of finished goods inventory on the balance sheet d. a period cost
Bar code scanners are now being used to track incoming materials and to electronically transmit this data. Scanners have replaced which of the following:
A) receiving report B) materials requisition C) materials ledger D) job cost sheet
Which of the following aspects of culture is most difficult to change?
a. Cultural artifacts b. Espoused beliefs and values c. Underlying assumptions d. How people relate to one another
____ are costs that change in total when production volume increases or decreases within the relevant range
A) Variable costs B) Facility-level costs C) Fixed costs D) Period costs