Cost accounting systems are used ________
A) to accumulate product cost information
B) to accumulate and assign period costs to products
C) by manufacturing companies, not service companies
D) by stockholders for decision-making purposes
A
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The FIP principle of Notice/Awareness states that:
A) customers must be allowed to choose how their information will be used for secondary purposes other than the supporting transaction. B) data collectors must take responsible steps to assure that consumer information is accurate and secure from unauthorized use. C) there must be a mechanism in place to enforce FIP principles. D) Websites must disclose their information practices before collecting data. E) consumers should be able to review the data collected about them.
Which of the following is/are true concerning accumulated other comprehensive income?
a. Firms measure marketable equity securities classified as available for sale at fair value and record the unrealized changes in fair value as an element of other comprehensive income. b. Firms remeasure derivatives designated as cash flow hedges to fair value at the end of each period and report the unrealized gain or loss in other comprehensive income. c. Firms translate the reported results of their foreign operations from local currencies into U.S. dollars in order to prepare consolidated financial statements. d. Firms must include gains and losses from changes in actuarial assumptions, actuarial performance, and prior service cost in other comprehensive income prior to their amortization as an adjustment to pension expense. e. all of the above