This method of pricing involves pricing the product based on how it benefits the customers:
a. target-return pricing
b. customer-led pricing
c. value-based pricing
d. benefit pricing
c. value-based pricing
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Items should be reported as part of the company's "inventory" at year end, if they are
a. Sold during the period. b. Determined to be part of cost of goods sold. c. Purchased from a creditor, available for sale, and paid for the following year. d. Held in anticipation of an increase in market value.
Which of the following accounts most likely would be found on both a trial balance and an adjusted trial balance?
A) Utilities Expense B) Insurance Expense C) Supplies Expense D) Depreciation Expense-Equipment
Using U.S. GAAP and IFRS requirements for income tax accounting for financial reporting purposes, the accountant computes income tax expense using
a. pretax amounts for financial reporting. b. the amounts on income tax returns. c. the cash outflows for income taxes. d. permanent differences. e. temporary and permanent differences.
Your accrued pension benefits are
A) your vested benefits. B) those you expect to earn before retirement. C) your accumulated pension benefits. D) those that will be lost if you change employers.