Which of the following statements is true? XBRL is an adaptation of XML XBRL use is mandated for SEC filings XBRL stands are available for anyone to use. All of these answer choices are correct

 

Which of the following statements is true?

XBRL is an adaptation of XML

XBRL use is mandated for SEC filings

XBRL stands are available for anyone to use.

All of these answer choices are correct

Answer

All of these answer choices are correct

Which type of business strategy involves the goal of being the low-cost provider in an industry?

 

Which type of business strategy involves the goal of being the low-cost provider in an industry?

Responsibility accounting reports can include non financial information using a sophisticated AIS

Cost differentiation

Cost advantage

Cost focus

 

Answer

Responsibility accounting reports can include nonfinancial information using a sophisticated AIS

 

BookCo. Uses the activity -bases costing approach for cost allocation and product costing purposes. Printing, cutting, and binding functions make up the manufacturing process. Machinery and equipment are arranged in operating cells that produces a complete product starting with raw materials.

 BookCo. Uses the activity -bases costing approach for cost allocation and product costing purposes. Printing, cutting, and binding functions make up the manufacturing process. Machinery and equipment are arranged in operating cells that produces a complete product starting with raw materials.

Which of the following are characteristic of Book’s activity-based costing approach.

i.                 Cost drivers are used as a basis of cost allocation

ii.                Costs are accumulated by department or function for the purpose of product costing

iii.               Activities that do not add value to the product are identified and reduced to the extent possible

1)     i and ii

2)     i and iii

3)     i only

4)     ii and iii

 

Answer 

   i and iii