In the absorption approach to cost-plus pricing, the anticipated markup in dollars is equal to the anticipated profit.
Answer the following statement true (T) or false (F)
False
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Expenses that fall outside the regular operations of a business are ________.
A) generally a substantial part of net income B) recorded in the Retained Earnings account C) included under the other income and expenses section of the income statement D) not considered for the calculation of net income
A _________ organization is an organization in which decision–making authority is spread throughout the organization
a. segmented b. decentralized c. matrix d. centralized
Internal users of financial information:
A. Are those individuals involved in managing and operating the company. B. Include shareholders and lenders. C. Include directors and customers. D. Are not directly involved in operating a company. E. Include suppliers, regulators, and the press.
The Consumer Product Safety Commission (CPSC) is an independent administrative agency. Which statement is correct about the chairperson?
A)The chairperson serves at the whim of the President and can be fired at any time. B)The chairperson can only be fired by the President for good cause. C)The chairperson cannot be fired by the President since the CPSC is an independent agency. D)The chairperson has a lifetime appointment and cannot be fired.