The earthquake/tsunami which hit Japan in March of 2011 highlights the contemporary need to design organizational controls for ________

An asset which is expected to be converted into cash, sold, or consumed within one year of the balance sheet date is always reported as a current asset.

a. true b. false

The best measure of the performance of the manager of a profit center is the

a) amount of contribution margin generated by the profit center. b) success in meeting budgeted goals for controllable costs. c) amount of controllable margin generated by the profit center. d) rate of return on investment.