When you rely on the mean to summarize many data values, you lose important information about the original data
Indicate whether the statement is true or false
TRUE
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Cash flows to assets is measured in terms of
a. a percentage. b. times. c. days. d. dollars.
Ordinary repairs usually result in a debit to the appropriate Accumulated Depreciation account
Indicate whether the statement is true or false
Hillsborough Street Manufacturing Inc Hillsborough Street Manufacturing Inc incurred the following costs in 2011: Direct materials used $51,000 Direct labor costs 45,000 Factory rent and utilities 18,000 Factory equipment depreciation 7,500 Marketing expenses 8,000 Administrative expenses 10,000 45,000 units were produced during the year out of which 38,000 units were sold for $10 each. There was
no beginning or ending raw materials or work in process inventory. Refer to the Hillsborough Street Manufacturing Inc information above. What is cost of goods sold for the year? A) $102,600 B) $121,500 C) $117,800 D) $139,500
Which of the following is NOT typically true of a state workers' compensation statute?
a. The system is no-fault. b. The system is based on the principle that the risks of injury in the workplace should be borne by the state. c. An employee is entitled to benefits regardless of the level of safety in the work environment. d. An employee is entitled to benefits regardless of the degree to which the employee's carelessness contributed to the incident.