Operating system controls are of interest to system professionals but should not concern accountants and auditors
Indicate whether the statement is true or false
F
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Which of the following are criteria for determining whether to record an asset as a fixed asset?
a. must be tangible and an investment b. must be long lived and used by the company in its normal operations c. must be short lived and tangible d. must be an investment and long lived
The ______ rule can be applied for scheduling in make-to-stock and make-to-order production systems.
A. shortest processing time B. earliest due date C. longest processing time D. critical ratio (CR)
Listed below in random order are the steps in the accounting cycle.(1) prepare the financial statements(2) post the journal entries to the ledger(3) record journal entries(4) prepare a trial balanceWhat is the proper order of these steps?
A. (3), (2), (4), (1) B. (2), (3), (4), (1) C. (4), (3), (2), (1) D. (3), (2), (1), (4)
The book value of an old machine is always considered an opportunity cost in a decision.
Answer the following statement true (T) or false (F)