Which one of the following financial statements is not required by GAAP regarding a voluntary health and welfare entity?
A. Statement of Operations.
B. Statement of Cash Flows.
C. Statement of Activities and Changes in Net Assets.
D. Statement of Functional Expenses.
E. Statement of Financial Position.
Answer: A
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The number of days' sales uncollected is determined by dividing
a. the number of days in a year by the receivable turnover. b. the number of days in a year by average accounts receivable. c. net income by average accounts receivable. d. sales by average accounts receivable.
When a clerk enters a sale and the customer can see the amount displayed and is given a cash receipt, this is an example of a preventive control
Indicate whether the statement is true or false
A company has two products: A and B. It uses activity-based costing and has prepared the following analysis showing budgeted cost and activity for each of its three activity cost pools: Budgeted ActivityActivity Cost PoolBudgeted CostProduct AProduct BActivity 1$87,000 3,000 2,800 Activity 2$62,000 4,500 5,500 Activity 3$93,000 2,500 5,250 Annual production and sales level of Product A is 34,300 units, and the annual production and sales level of Product B is 69,550 units. What is the approximate overhead cost per unit of Product B under activity-based costing?
A. $15.00 B. $2.33 C. $2.00 D. $3.00 E. $10.28
Under the ECPA, any intended recipient has the right to disclose the content of an email
a. True b. False Indicate whether the statement is true or false