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Question 3 a.) The more days sales in inventory the higher the inventory turnover.(True/False) b.) Unearned income is a liability.(True/False) c.) Deferred revenue is unearned.(True/False)
Question 3 a.) The more days sales in inventory the higher the inventory turnover.(True/False) b.) Unearned income is a liability.(True/False) c.) Deferred revenue is unearned.(True/False) d.) Deferred expenses are paid in advance.(True/False) e.) Contingent liabilities must be accrued if at all possible.(True/False) f.) All factory overhead costs are indirect.(True/False) g.) It's safe to say that all manufacturing costs go up when production volume increases.(True/False)
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