Under the accrual basis of accounting, revenues and expenses are recorded when cash is received or paid, except for property, plant, and equipment and prepaid items
Indicate whether the statement is true or false
F
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Activity reduction increases the efficiency of necessary activities by using economies of scale
Indicate whether the statement is true or false
IFRS and GAAP use similar approaches when it comes to gains or losses on disposals of assets. The only difference is GAAP requires the use of the reevaluation method
Indicate whether the statement is true or false
Establishing the need for marketing research:
A) arises when managers must make decisions and they have inadequate information B) is determined by a quantitative analysis of the appropriateness of marketing research should be undertaken for every decision made in the firm C) stems from the need to establish a monitoring system that alerts mid management to either opportunities in the marketplace or problems D) should not come from a monitoring system but rather from management intuition E) should be determined only after the problem is clearly defined
When most of the authority in a corporation is held by top management, the organization is said to be
a. decentralized. b. engaged in transfer pricing activities. c. centralized. d. composed of cost centers.