3. For the purposes of financial statements prepared under generally accepted accounting standards (GAAP), companies: to. They should use absorption costing b. They should use variable costing c. they can use variable costing, but most companies use absorption costing d. can use absorption costing, but most companies use variable costing
3. For the purposes of financial statements prepared under generally accepted accounting standards (GAAP), companies: to. They should use absorption costing b. They should use variable costing c. they can use variable costing, but most companies use absorption costing d. can use absorption costing, but most companies use variable costing
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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3. For the purposes of financial statements prepared under generally accepted accounting standards (GAAP), companies:
to. They should use absorption costing
b. They should use variable costing
c. they can use variable costing, but most companies use absorption costing
d. can use absorption costing, but most companies use variable costing
4. With regard to quality, the costs that a company must emphasize to improve its quality are:
to. External failure costs
b. Internal failure costs
c. Assessment costs
d. Prevention costs
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