Examlex

Solved

Inspection Is Keeping Errors Out of Process While Prevention Is

question 43

True/False

Inspection is keeping errors out of process while prevention is trying to find errors so they do not get to the customer.


Definitions:

Indirect Method

A technique used in cash flow statements to reconcile net income with cash flow from operating activities, by adjusting non-cash transactions and changes in working capital.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life in a systematic manner.

Cash Dividend

A payment made by a company out of its profits to shareholders, typically in cash, representing a portion of the earnings allocated to each share of stock.

Related Questions