Adding together all 12-month cumulative income and expense variances should equal
A)
zero.
B)
actual savings (or dissavings).
C)
planned savings (or dissavings).
D)
the difference between planned saving and actual saving.
D
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A catalog retailer of kitchen items observes that during some weeks it sells 40 muffin pans, and during other weeks it sells none. A reorder takes up to three weeks. The probability of running out of pans and alienating its customers can be alleviated by maintaining
A. cycle stock. B. hidden inventory. C. backup stock. D. lead stock. E. non-ledgered stock.
The land, air, water, living organisms, and our ecosystem's formations that provide us with the goods and services on which our survival depends comprises our:
A. national endowment. B. national birthright. C. topography. D. natural capital.
The U.S. Supreme Court can invalidate a law if it conflicts with the U.S. Constitution
Indicate whether the statement is true or false
When performing an audit of the property, plant, and equipment accounts, an auditor should expect which of the following to be most likely to indicate a departure from generally accepted accounting principles?
A. Interest has been capitalized for self-constructed assets. B. Assets have been acquired from affiliated corporations with the related transactions recorded and described in the financial statements. C. Repairs have been capitalized to equipment to keep it in normal working order. D. The cost of freight-in on an acquisition has been capitalized.