When reconciling variable costing and absorption costing net operating income, fixed manufacturing overhead costs deferred in inventory under absorption costing should be deducted from variable costing net operating income to arrive at the absorption costing net operating income.
Answer the following statement true (T) or false (F)
False
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According to the text, modern corporations seek salespeople with all of the following characteristics EXCEPT:
A. values B. character C. trust D. integrity E. synergy
Total variable costs change in proportion to changes in the volume of activity.
Answer the following statement true (T) or false (F)
Who are initial reference customers?
a. First customers who use your product and will recommend it to others b. Customers who you interview during initial field research c. Friends and family who invest in your company d. People who sign up for a trial product
Which of the following statements about types of business entities is true?
A. One advantage of the corporation form is the ability to raise capital. B. Ownership in a partnership is represented by having shares of capital stock. C. Sole proprietorships are subject to double taxation. D. For accounting purposes, a sole proprietorship is not a separate entity from its owner.