What do we mean by the state of an object?
What will be an ideal response?
It is the condition of an object at a certain stage from a specific viewpoint. A state is a snapshot of the object at a (usually important) point in time. An object may arrive at a certain state repeatedly, or it might have multiple states simultaneously (depending on the viewpoint).
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The qualitative characteristics describe the attributes that enhance the usefulness of financial reporting information. The FASB's conceptual framework sets forth the qualitative characteristic of _____ that refers to financial reporting that treats similar items the same way and different items differently. Consistency refers to financial reporting that treats an item the same way over time
a. relevance b. reliability c. comparability d. materiality e. understandability
Answer the following statement(s) true (T) or false (F)
1. Process integration is a significant issue in many firms. 2. A firm’s partners that are critical are referred to as key trading partners. 3. Coordination with a key trading partner may be critical enough to encourage a firm to relocate. 4. The development of performance measures for integrated processes is of little importance to firms. 5. A popular supply chain process integration model is the SCOR Model.
If A --> B is an existing functional dependency, which of the following is an augmented functional dependency?
A) A, B --> C B) A, C --> B C) A --> C D) B --> A
Austin Woods made a cash payment for delivery expenses, but mistakenly recorded it to advertising expense. What effect will this have on the trial balance?
A) The debits will be understated. B) The debits will be overstated. C) The debit balance will be correct. D) The credit balance will be incorrect.