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Which of the following statements regarding accounting for by-products is true? Multiple Choice If all products are sold in the same period as they are
Which of the following statements regarding accounting for by-products is true? Multiple Choice
- If all products are sold in the same period as they are produced, treating by-product revenue as other revenue will result in a higher overall gross margin.
- If all products are sold in the same period as they are produced, treating by-product net-realizable-value as a deduction of the cost of the main products will result in a higher overall gross margin.
- If all products are sold in the same period as they are produced, total reported revenues will be the same regardless of how by-product revenue is accounted for.
- If all products are sold in the same period as they are produced, the reported gross margin will be the same regardless of how by-product revenue is accounted for.
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Fundamental Managerial Accounting Concepts
Authors: Edmonds, Tsay, olds
6th Edition
71220720, 78110890, 9780071220729, 978-0078110894
