Relevance and faithful representation are the ultimate objectives of accounting information
Indicate whether the statement is true or false
False
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A contingent liability is recorded if it is probable and can be reasonably estimated
a. True b. False Indicate whether the statement is true or false
Working in outsourcing teams, projects can be completed faster and more cheaply.
Answer the following statement true (T) or false (F)
George lends $200,000 for each new idea. George's history is that he selects low-risk projects or ideas that hit 80% of the time. What rate of return must each successful project pay George for him to break even?
A) 20.50% B) 22.00% C) 23.50% D) 25.00%
In a flexible budget, what will happen to fixed costs as the activity level increases?
A. The fixed cost per unit will increase. B. The fixed cost per unit will remain unchanged. C. Fixed costs are not included in a flexible budget. D. The fixed cost per unit will decrease.