Contribution margin is the amount that contributes to covering variable costs
Indicate whether the statement is true or false
FALSE
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The basis of accounting that fails to take into consideration amounts earned that are not collected and expenses incurred but are not paid is the _________________________
Fill in the blank(s) with correct word
The cost and time of communicating across world regions has remained unchanged with the advent of information technology
Indicate whether the statement is true or false
Which of the following descriptions is not a key priority to support the work of professional accountants in embedding sustainable practices?
a. Raising awareness and facilitating sharing and collaboration across the global accountancy community. b. Incorporating accounting for sustainability within professional training and education. c. Using traditional ways of thinking about organizational performance. d. Establishing an international integrated reporting committee to develop a new reporting model that will better reflect the interconnected impact of financial, environmental, social, and governance factors on the long-term performance and condition of an organization.
In U.S. GAAP, which of the following accurately describes the effects of transactions involving investments on the statement of cash flows using the fair value method for trading securities and fair value hedges?
a. Realized gains and losses appear in net income. Unrealized gains and losses appear in Other Comprehensive Income. b. Realized gains and losses appear in Other Comprehensive Income. Unrealized gains and losses appear in net income. c. Realized gains and losses appear in Retained Earnings. Unrealized gains and losses appear in Other Comprehensive Income. d. Realized gains and losses appear in Retained Earnings. Unrealized gains and losses appear in net income. e. Both realized and unrealized gains and losses appear in net income.