If the activity level increases, then one would expect the fixed cost per unit to increase as well.
Answer the following statement true (T) or false (F)
False
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The income statement's bottom-line figure (net income or loss) must be shown "net of tax."
Indicate whether the statement is true or false
Effective January 2, 2014, Moldaur Co adopted the accounting principle of expensing advertising and promotion costs as they are incurred. Previously, advertising and promotion costs applicable to future periods were recorded in prepaid expenses. Moldaur can justify the change, which was made for both financial statement and income tax reporting purposes. Moldaur's prepaid advertising and
promotion costs totaled $250,000 at December 31 . 2013 . Assume that the income tax rate is 40 percent for 2013 and 2014 . The adjustment for the effect of the change in accounting principle should result in a net charge against income in the income statement for 2014 of a. $0. b. $100,000. c. $150,000. d. $250,000.
Interest earned on the cash balance in the bank is recorded by the bank as:
A. An increase in the depositor's bank account. B. A decrease in the depositor's bank account. C. A decrease in the bank's asset account. D. An increase in the bank's expense account. E. An increase in the bank's asset account.
When analyzing your strengths and skills, why do you think you should list even those work experiences that don't directly relate to the focus of your current job search?
What will be an ideal response?