When a direct cause-and-effect relationship cannot be established between revenues and costs, the costs are
A) not expensed and remain as assets on the balance sheet.
B) expensed among the accounting periods that benefit from the costs.
C) expensed immediately in their entirety.
D) expensed equally each year.
B
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With a special order decision, the fixed costs of existing facilities
A) do not change and are therefore irrelevant. B) change in proportion of the order to net sales. C) do not change and are relevant. D) change drastically.
What statements are required to be prepared before a balance sheet is prepared?
a. An income statement and a statement of retained earnings. b. A statement of retained earnings and a statement of cash flows. c. An income statement, a statement of retained earnings, and a statement of cash flows. d. An income statement and a statement of cash flows.
Which of the following is NOT a benefit of form reports?
a. Increase clerical accuracy b. Save time for the preparer c. Make data tabulation easier d. Increase personalization
The noun pliers ____
A) is usually singular B) is usually plural C) may be singular or plural