True or False T F 1. Statement analysis is less important since the introduction
ID: 2376521 • Letter: T
Question
True or False
T F 1. Statement analysis is less important since the introduction of computers in
accounting.
T F 2. The Quick Ratio is used primarily by long term investors.
T F 3. American manufacturers are proponents of keeping the dollar strong at all
costs.
T F 4. Accounting for Inventories in manufacturing and merchandising
companies is just as complex.
T F 5. Management accounting normally includes data and reports used by
investors.
T F 6. J.I.T. is a type of inventory control that is currently popular.
T F 7. Non-financial data gathering is a part of managerial accounting.
T F 8. Material, labor and fixed costs are the three components of manufacturing
costs.
T F 9. Work in Process Inventory Valuation is a simple process done with a high
degree of certainty.
T F 10. Overhead is usually estimated a year in advance to facilitate accurate
costing.
Help please ...
Explanation / Answer
Statement analysis is less important since the introduction of computers in
accounting.------FALSE.
=====================================================================
2. The Quick Ratio is used primarily by long term investors..-TRUE
=====================================================================
3. American manufacturers are proponents of keeping the dollar strong at all
costs..------FALSE.
=====================================================================
4. Accounting for Inventories in manufacturing and merchandising
companies is just as complex...-TRUE
=====================================================================
5. Management accounting normally includes data and reports used by
investors.-TRUE
=====================================================================
6. J.I.T. is a type of inventory control that is currently popular..--TRUE
=====================================================================
7. Non-financial data gathering is a part of managerial accounting.----FALSE.
=====================================================================
8. Material, labor and fixed costs are the three components of manufacturing
costs. ----FALSE.
=====================================================================
9. Work in Process Inventory Valuation is a simple process done with a high
degree of certainty-FALSE.
=====================================================================
10. Overhead is usually estimated a year in advance to facilitate accurate
costing.-TRUE
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