Both U.S. GAAP and IFRS do not require the allowance method for uncollectible accounts, which involves estimating the amount of uncollectible accounts receivable associated with each accounting period's credit sales
Indicate whether the statement is true or false
F
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The qualitative characteristics describe the attributes that enhance the usefulness of financial reporting information. The FASB's conceptual framework sets forth the qualitative characteristic of _____ that refers to financial reporting that treats similar items the same way and different items differently. Consistency refers to financial reporting that treats an item the same way over time
a. relevance b. reliability c. comparability d. materiality e. understandability
Which of the following are elements in transportation cost?
A) pickup and delivery B) terminal handling C) line haul D) all of the above E) none of the above
It is not important for companies to plan ahead to meet the requirements of their customers with disabilities.
Answer the following statement true (T) or false (F)
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:MonthMachine HoursElectricity CostsJanuary2,500$18,400 February2,900 21,000 March1,900 13,500 April3,100 23,000 May3,800 28,250 June3,300 22,000 July4,100 24,750 August3,500 22,750 September2,000 15,500 October3,700 26,000 November4,700 31,000 December4,200 27,750 Summary OutputRegression StatisticsMultiple R0.965R Square0.932Adjusted R20.925Standard Error1,425.18Observations12.00 CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Intercept3,726.881,682.822.210.05(22.69)7,476.45Machine Hours5.770.4911.70.004.676.87The correlation
coefficient for the regression equation for electricity costs is: A. 0.982. B. 0.925. C. 0.932. D. 0.965.