If a Company Is Not a Going Concern, Then Its

question 25

True/False

If a company is not a going concern, then its assets will be presented at their net realizable value.

Recognize the contractual use of financial statement numbers in business operations.

Understand the concept and application of activity-based costing (ABC).

Distinguish between different levels of activities (Unit-level, batch-level, product-level, facility level).

Calculate overhead cost per unit using ABC.

---

Definitions:

Demand Schedule

A chart displaying the amount of a product or service that buyers are ready and capable of buying at different price levels.

Total Utility

The total satisfaction or benefit received by consuming a particular quantity of a good or service.

Demand Curve

A visual depiction showing how the demand for a product or service varies with changes in its price over a specific time frame.

Consumer Surplus

The gap between the total sum consumers are ready and able to spend on a good or service versus the total sum they actually spend.