Kim applies the theory of situational ethics to the actions of her employees. This ethical theory allows her employees to get away with any act and call it moral
Indicate whether the statement is true or false
false
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If a company makes a prior period adjustment, which of the following describes how it must be reported?
A) The adjustment is recorded in retained earnings, and previous years' financial statements presented for comparative purposes are not changed. B) The adjustment is recorded in retained earnings, and previous years' financial statements presented for comparative purposes are adjusted. C) The adjustment is reported in the current period's income statement as a separate item. D) The adjustment is recorded as a deferred asset or deferred liability and amortized using the straight-line method.
The JIT environment has caused a reassessment of product costing techniques. Which of the following statements is true with respect to this reassessment?
a. Traditional cost allocations based on direct labor are being questioned and criticized. b. The federal government, through the SEC, is responsible for the reassessment. c. The reassessment is caused by the replacement of machine hours with labor hours. d. None of the above is true.
Treaties are implied agreements between two or more nations that specify how particular issues are to be resolved
Indicate whether the statement is true or false
The logical view of information focuses on how individual users logically access information to meet their own particular business needs.
Answer the following statement true (T) or false (F)