Which of the following terms is used when assuming a business will continue to operate in the foreseeable future?

going concern assumption

time period assumption

separate entity concept

monetary measurement concept

Which of the following is NOT considered a product cost?

direct materials

direct labour

indirect materials

Selling expense

managerial accountign produces information:

to meet the needs of investors

to meet the needs of external users

that follows the rules of GAAP( generally accepted accounting principles

that is often focused on the future

payroll liabilities include both the employer's share and employee's share of CPP contributions and EI premiums. until they are remitted to the canada revenue agency.

true

false