The closing process involve(s):
a. reducing to zero the balance in each income statement account.
b. debiting the revenue accounts.
c. crediting the expense accounts.
d. transferring to Retained Earnings the differences between total revenues and total expenses.
e. all of the above.
E
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Which of the following best describes the typical relationship between variable costs and volume?
A) Total variable costs increase in an erratic, unpredictable fashion with changes in volume. B) Total variable costs stay constant with changes in volume. C) Unit variable costs increase with changes in volume up to a certain point and then remain constant. D) Total variable costs increase in direct proportion to increases in volume.
Litigation public relations requires the intelligent use of acceptable, ethical public relations practices, including ________
A) developing a message strategy for use only at the beginning of a case B) advocating for lengthening the time a case is in court C) trying for settlement after the case is decided D) keeping the focus positive and fighting nicely
The decibel, which is the unit measure of sound, is the smallest change in sound that can be detected by the human ear
Indicate whether the statement is true or false.
The cost accountant works directly with the corporate president to develop the selling and administrative expense budget
Indicate whether the statement is true or false