Budgets and performance reports should be developed on the basis of

A) responsibility accounting.
B) generally accepted accounting principles.
C) financial accounting standards.
D) managerial accounting standards.

Answer: A) responsibility accounting.

Business

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When a plant asset is sold for less than its book value, a gain is recorded

Indicate whether the statement is true or false

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A broker fails to tell a buyer about a stigmatized issue. The buyer can have the Real Estate Commission investigate the broker.

a. true b. false

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