Elementals, Inc., makes computer chips identical to Flik Quik Corporation's patented chip, except for slight differences in the "look," without Flik's permission. This is most likely
A. copyright infringement.
B. patent infringement.
C. trademark infringement.
D. none of the choices.
Answer: B
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A company decides to ignore a very small error in its inventory balance. This is an example of the application of the ________.
A) conservatism B) materiality concept C) disclosure principle D) consistency principle
Which one of the following disclosures is required by generally accepted accounting principles?
A) depreciation expense for each major class of asset B) balances of major classes of depreciable assets by nature or function C) accumulated depreciation on each depreciable asset D) an explanation of why the depreciation method used was selected by management
The first person to propose using XML be used as a means to electronically deliver financial information was:
A. Charles Hoffman B. Manuel Sanchez C. Kevin Kobelsky D. Albert Gore
A(n) ________ cost is synonymous with the product cost calculated in a conventional standard cost accounting system
a. fixed b. direct c. joint d. expected