Consistent with ASC 842, accounting for assets and liabilities associated with a long-term operating leases is identical to accounting for financing leases.

Which of the following is an example of a period cost for a manufacturing company?

A) advertising expense B) depreciation on factory equipment C) indirect materials D) property taxes for the factory

The regulation school of social responsibility sees all business units as accountable to ________

A) elected public officials B) the board of directors C) shareholders D) employees