If production exceeds units sold, which of the following statements is correct?
A) The same operating income will result under both a variable costing and absorption
costing income statement.
B) A higher operating income will result under a variable costing income statement.
C) A higher operating income will result under an absorption costing income statement.
D) A lower operating income will result under an absorption costing income statement.
C
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Which of the following acts by a CPA will not result in a CPA's incurring an IRS penalty?
A. Failing, without reasonable cause, to provide the client with a copy of an income tax return. B. Failing, without reasonable cause, to sign a client's tax return as preparer. C. Understating a client's tax liability as a result of an error in calculation. D. Negotiating a client's tax refund check when the CPA prepared the tax return.
Only a limited number of statistics, all of which are based on frequency counts, are permissible on the numbers in a nominal scale
Indicate whether the statement is true or false