Statement evaluation. Several statements related to the material in the chapter are listed below; you are required to explain whether each statement is (i) always true, (ii) sometimes true, or (iii) never true.

All five business processes discussed in the text are required to create value for stakeholders.

Companies with long-term debt establish sinking funds.

Conversion process forms are paper-based.

Individual units of product in a process costing system are homogeneous.

Information technology eliminates the problem of accounts receivable lapping.

Separation of duties can be applied to fixed assets used in the conversion process.

The "date of record" determines who receives dividends on capital stock.

The par value of a share of capital stock is determined by the stock market.

The total cost of a batch of units should be calculated and stored in a relational database table.

With respect to long-term debt, the "coupon interest rate" and the "market interest rate" are two ways of referring to the same thing.