Whenever a work-related injury or disease occurs, employers must make reports directly to the Occupational Safety and Health Administration
Indicate whether the statement is true or false
True
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Contrast the four decision types, strategic planning, tactical planning, management control and operational control, by the five decision characteristics, time frame, scope, level of details, recurrence, and certainty
Mary's Mittens, Inc., a merchandising company, wants to prepare the budgeted balance sheet for the next budget period. For this purpose, the amount of ending cash balance can be retrieved from the ________.
A) capital expenditures budget B) budgeted funds flow statement C) cash budget D) sales budget
Which major external business force requires organizations to continually improve their products to create value?
A. Suppliers B. Labor force C. Customers D. Governments E. Competition
On January 1, Year 1, Phoenix Corporation purchased a delivery truck for $45,000. The estimated useful life of the truck is 5 years, with an estimated salvage value of $9,000. The truck is expected to be driven 200,000 miles during its useful life.Required:a) Phoenix uses double-declining-balance depreciation. (1) What is the amount of depreciation for Year 1? (2) What is the balance of the accumulated depreciation account at the end of Year 2?b) Refer to part a. Assume Phoenix used double-declining-balance depreciation and sold the truck at the beginning of Year 3 for $18,000. What is the amount of the gain or loss on the sale of the delivery van?c) Prepare the journal entry to record the sale in part (b).d) Assume that Phoenix used the units-of-production method instead. The
delivery van was driven 50,000 miles the first year and 40,000 miles the second year. (1) What is the amount of depreciation expense for Year 1? (2) What is the amount of depreciation expense for Year 2? (3) What is the book value of the van at the end of Year 2? What will be an ideal response?