Another name for uncovered interest arbitrage is carry trade

Which of the following statements concerning depreciation expense is most correct?

a. Depreciation expense accounts for the loss of value of inventory. b. Depreciation expense accounts for the loss of value of securities investments. c. Depreciation expense accounts for the loss of value of fixed assets (plant and equipment). d. For accounting purposes, depreciation expense is calculated by the double declining balance method. e. For accounting purposes, depreciation expense is calculated by the triple declining balance method.

The schedule or budget that combines data calculated in the production, direct material, direct labor and manufacturing overhead budgets is the _________________

a. Cost of goods manufactured and sold b. The budgeted income statement c. The manifesting overhead budget d. The budgeted cash receipts