Presently, the dominant body in the development of accounting principles is the
A) American Institute of Certified Public Accountants (AICPA)
B) American Accounting Association (AAA)
C) Financial Accounting Standards Board (FASB)
D) Institute of Management Accountants (IMA)
C
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When the norms and values of behaviors of an organization’s employees are the same as those of the organization, the employees are said to have ______ them.
a. recognized b. evaluated c. internalized d. followed
The four Standards of Ethical Conduct for Management Accountants relate to competence, confidentiality, integrity, and objectivity.
Answer the following statement true (T) or false (F)
Title VII is administered by the Equal Employment Opportunity Commission (EEOC), a five-member commission appointed by the president that works with the commission's Office of General Counsel
Indicate whether the statement is true or false
The management of Woznick Corporation has been concerned for some time with the financial performance of its product V86O and has considered discontinuing it on several occasions. Data from the company's accounting system for this product for last year appear below:Sales$150,000Variable expenses$72,000Fixed manufacturing expenses$50,000Fixed selling and administrative expenses$33,000In the company's accounting system all fixed expenses of the company are fully allocated to products. Further investigation has revealed that $30,000 of the fixed manufacturing expenses and $13,000 of the fixed selling and administrative expenses are avoidable if product V86O is discontinued.What would be the financial advantage (disadvantage) from dropping product V86O?
A. ($5,000) B. $35,000 C. $5,000 D. ($35,000)