Which of the following is critical for a lien to be valid?
A) A legally sufficient description of the land
B) The nature of the work being done
C) The express permission of the landowner
D) A general contractor's license
A
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The cost of going to an ATM is $2 in an economy. If the nominal interest rate in the economy is 1 percent, what is the total cost associated with holding cash for an individual who spends $15 daily and has a 9 percent probability of having his cash lost or stolen? Assume that he visits the ATM once in every T days.
A. (365/T) + (0.75 ×T) B. (730/T) + (0.75 ×T) C. (730/T) + (1.5 ×T) D. (365/T) + (1.5 ×T)
A certificate of deposit is:
A. an instrument in which the maker makes an unconditional promise to pay a fixed amount of money with interest to the payee on demand. B. an instrument in which the maker makes an unconditional promise to pay a fixed amount of money without interest to the payee at the specified future time. C. the most widely used form of commercial paper that is a draft payable on demand and drawn on a bank. D. an instrument containing an acknowledgment by a bank that it has received a deposit of money and a promise to repay the sum of money.
Clear Window Cleaners Clear Window Cleaners purchased new cleaning equipment at the beginning of 2011. The equipment has a cost of $53,000, an estimated life of 5 years, and an estimated residual value of $3,000. A full year's depreciation expense is to be recorded in 2011. The equipment was used 20,000 hours during 2011 and 24,000 hours during 2012. The number of expected hours over five years
is 125,000. Refer to the information provided for Clear Window Cleaners. Clear Window is comparing the straight-line and double-declining-balance depreciation methods. Of these two methods, which method creates the larger expense and larger tax savings in 2011? A) Straight-line depreciation creates the larger expense, while double-declining-balance depreciation creates the larger tax savings. B) Straight-line depreciation creates both the larger expense and the larger tax savings. C) Double-declining-balance depreciation creates both the larger expense and the larger tax savings. D) Double-declining-balance depreciation creates the larger expense, while straight-line depreciation creates the larger tax savings.
Urban Company reports the following information regarding its production cost:Units produced 20,000unitsDirect labor$13per unitDirect materials$18per unitVariable overhead$11per unitFixed overhead$110,000in totalCompute production cost per unit under variable costing.
A. $13.00 B. $18.00 C. $42.00 D. $36.50 E. $31.00