just few true false

TRUEIFALSE. Write 'T if the statement is true and ' F ' if the statement is Select the Answer from Notes: false. the cell below An important part of planning is to identify alternatives and then to select 1 from among the alternatives the one that best meets the organization's objectires. Companies should identify foreseeable risks before they occur rather than 2 react to unfortunate events that have already happened. 3 A value chain consists of the major business functions that add value to a company's products and services. Managerial accounting is NOT governed by generally accepted accounting principles (GAAP). 5 In general, accounting data only serves managerial accounting purposes To eliminate the likelihood that employees will engage in undesirable 6 activities that may harm various stakeholders, many companies prepare a formal code of conduct to reflect their values and moral system. 7 In external financial reports, factory utilities costs may be included in an asset account on the balance sheet at the end of the period. 8 Professional organizations like CPA Canada can punish companies if they violate the code of ethics. 9 Al costs incurred in a merchandising firm are period costs. 10 Property taxes and insurance premiums paid on a factory building are examples of manufacturing overhead. In a manufacturing company, goods available for sale equals the sum of 11 the cost of goods manufactured and the beginning finished goods inventory inventory. 12 Variable 13 On a per unit basis, a fixed cost varies inversely with the level of activity. 14 As goofs are completed their cost is transferred from the Work in Process accounto the Finished Goods account where they await sale to customer. Some companies classify labour fringe benefits for direct labour workers 15 as part of the direct labour cost and some classify these costs as manufacturing overhead