Fees of load funds that are used to cover the costs of trading in securities are called 12b-1 fees.

The choice of location for board meetings is not critical

Indicate whether the statement is true or false

Jackson Transportation purchases many pieces of office furniture with an individual cost below $200 each. Jackson chooses to account for these expenditures as expenses when acquired rather than reporting them as property, plant, and equipment on its balance sheet. The company's accountant and independent CPA agree that no accounting principle has been violated. What accounting justification

allows Jackson to expense the furniture? a. Conservatism b. Matching c. Materiality d. Verifiability