Which of the Following Is TRUE of Support Processes

question 51

Multiple Choice

Which of the following is TRUE of support processes?

• A)Support processes are those that are most important to an organization's value- creation processes.
• B)They provide infrastructure and add value directly to the product or service.
• C)Support processes do not include administrative services.
• D)Value creation processes require a higher level of attention than do support processes.

Understand the journal entry recording for estimated product warranty liability expenses.

Apply the concept of contingent liabilities and how to account for and disclose them according to their likelihood and estimability.

Utilize interest calculations for notes payable and receivable to determine proceeds and payments.

Differentiate between various financial metrics (current ratio, working capital, quick ratio) and their calculation.