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)