Which of the following statement is not true? a)period costs are all costs that are not product costs. b)service firms are distinguished from other firms in that the products service firms offer are not tangible or storable. c)the gaap income statement combines controllable with non-controllable costs and fixed costs with variable costs. d)period costs contain controllable, but not non-controllable costs. e)the cost of providing services might include depreciation on equipment.

Danielle enjoy working as in certified public accountant (cpa) and assisting small business and individuals with managing their financial and taxes . which general area of accounting is her specialty ?

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.

Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii