As a study aid, your classmate pascal adams has prepared the following list of statements about decision-making and incremental analysis. identify each statement as true or false. 1. the first step in management’s decision-making process is, "determine and evaluate possible courses of action." 2. the final step in management’s decision-making process is to actually make the decision. 3. accounting’s contribution to management’s decision-making process occurs primarily in evaluating possible courses of action and in reviewing the results. 4. in making business decisions, management ordinarily considers only financial information because it is objectively determined. 5. decisions involve a choice among alternative courses of action. 6. the process used to identify the financial data that change under alternative courses of action is called incremental analysis. 7. costs that are the same under all alternative courses of action sometimes affect the decision. 8. when using incremental analysis, some costs will always change under alternative courses of action, but revenues will not. 9. variable costs will change under alternative courses of action, but fixed costs will not.

In december of 2004, the company you own entered into a 20-year contract with a grain supplier for daily deliveries of grain to its hot dog bun manufacturing facility. the contract called for "10,000 pounds of grain" to be delivered to the facility at the price of $100,000 per day. until february 2017, the supplier provided processed grain which could easily be used in your manufacturing process. however, no longer wanting to absorb the cost of having the grain processed, the supplier began delivering whole grain. the supplier is arguing that the contract does not specify the type of grain that would be supplied and that it has not breached the contract. your company is arguing that the supplier has an onsite processing plant and processed grain was implicit to the terms of the contract. over the remaining term of the contract, reshipping and having the grain processed would cost your company approximately $10,000,000, opposed to a cost of around $1,000,000 to the supplier. after speaking with in-house counsel, it was estimated that litigation would cost the company several million dollars and last for years. weighing the costs of litigation, along with possible ambiguity in the contract, what are three options you could take to resolve the dispute? which would be the best option for your business and why?

According to this excerpt, a key part of our national security strategy is

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?