Ttue/False Questions (1 point each) Circle One 1. The value chain comprises activities from research and des production process, but does not include activities related Id development through the or services Clated to the distribution of products True False 2. Cost information used for one managerial decision could be irrelevant for anot managerial decision. True False inting information to be comparable between firms 3. It is more important for financial accounting information to be comparab than to be useful for managerial decision-making. True False 4. The cost of an item is the sacrifice made to acquire it. True False 5. Accounting systems typically record opportunity costs as assets and treat them as intangible items on the financial statements. True False 6. Only direct costs can be classified as product costs: indirect costs are classified as period costs. True False 7. The break-even point for an organization with a low operating leverage will be relatively higher than the break-even point for an organization with a high operating leverage. True False 8. An increase in an organization's fixed costs will result in a lower margin of safety, assuming all other costs and sales remain unchanged. True False 9. Only variable costs can be differential costs. True False 10. Short-run decisions often have long-run implications, True False