In the revenue cycle, the internal control "limit access" applies to physical assets only
Indicate whether the statement is true or false
F
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Which of the following is NOT an element identified by the AICPA as being necessary in order to use percentage-of-completion accounting?
a. The construction period can be reasonably estimated. b. The buyer can be expected to satisfy obligations under the contract. c. Dependable estimates can be made of the extent of progress toward completion. d. Dependable estimates can be made of contract costs.
The useful life of a plant asset is:
A. Determined by the FASB. B. Determined by law. C. The length of time it is productively used in a company's operations. D. Its productive life, but not to exceed one year. E. Never related to its physical life.
To be most effective, market share data should be analyzed
A. relative to revenue and profitability. B. in isolation, apart from other measurements. C. along with gross margin. D. along with historical sales data. E. relative to marketing expenditures.
When initiating an IM, follow the grammar, punctuation, and capitalization standards within the organization
Indicate whether the statement is true or false