Accounting Study Guide
1. The reason economists and accountants have problems using cost analysis in the real world is that
although implicit costs do not show up in accounting profits, they nevertheless affect managerial decisions
although explicit costs do not show up in accounting profits, they nevertheless affect managerial decisions
economists do not believe in the existence of explicit costs expilcit costs cannot be measured
Explanation: Implicit costs occur when an asset is used internally, rather than for direct cash flow. These costs affect decisions, but cannot be quantitatively measured.
2. The ____ as the number of levels in the organizational hierarchy increases.
span of control expands
span of control …show more content…
A valid contract must
use the title Contract at the top of the document
exist where all necessary legal elements for contract formation are present
be entirely in writing
be signed by all parties
21. What are the benefits of using IM in business communication?
22. What are some rhetorical devices used in persuasive messages?
23. Suppose that at the current price consumers would like to purchase 10 million large-screen televisions and 15 million are available. When the market coordinates the demand and supply for large-screen televisions, the price of large-screen televisions will
24. The following is an example of a moral value judgment
I don’t deserve to be flunked for an honest mistake.
The senator dresses well
Keith Lewis must be a total flake.
As an actress. Paris Hilton has a nice clothes rack
Explanation: A moral judgment in the worth of a person or object.
25. Business environment pressures can come from which of the following?
26. In a relational database, the customer record contains information regarding the customer's last name. The last name is a (an)
27. A standardized language used to manipulate data is
a data manipulation language
28. Research on the five-stage model of group development shows that
groups always pass through the stages in order
all groups pass through the