Revising an estimate of the useful life or salvage value of a plant asset is referred to as a change in accounting estimate and is reflected in the current, and future financial statements.
Answer the following statement true (T) or false (F)
True
You might also like to view...
In a JIT system, reducing throughput time is possible because:
a. there are fewer materials used in the process. b. there are more workers involved in the process. c. there are more supervisors, so a better job is done of directing plant activities. d. there are fewer operations such as moving and storing inventories that do not add value to the product.
Separation of duties relates to a control activity in the accounting system
Indicate whether the statement is true or false
A consignee is a person to whom a common carrier makes a delivery
Indicate whether the statement is true or false
Lake Port Services enters into a contract to load Max's Great Lakes barges with the cargo that Max designates. Lake Port's offer to perform, when Lake Port is ready, willing, able to do so, is
A. complete. B. substantial. C. tender. D. tough.