The Mazur plan most closely corresponds to which job classification system?
a. functional classification
b. product classification
c. geographic classification
d. combination organization
a
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With the effective interest method of amortization, the amortization of bond premium results in a(n)
a. increase in stockholders' equity. b. no change in stockholders' equity. c. increase in interest expense. d. decrease in interest expense.
Armac Ltd. is a sluice-box manufacturer based in China. A sluice-box is used for gold prospecting
Armac is interested in selling a few of its machines to an American mining company, but it wants 95 percent of the machines' price in gold and the rest in ores recovered by using the machines. This is an example of a ________. A) buyback arrangement B) functional discount C) barter deal D) compensation deal E) sealed bid
Even in the face of adversity, a group working together for a common goal can have high
a. levels of frustration. b. morale. c. sensitivity. d. none of these choices.
Zenith Company's Merchandise Inventory account at year-end has a balance of $91,820, but a physical count reveals that only $90,450 of inventory exists. The adjusting entry to record this $1,370 of inventory shrinkage is:
A.
| Inventory shrinkage expense | 1,370 | |
| Cost of goods sold | 1,370 |
B.
| Merchandise inventory | 1,370 | |
| Inventory shrinkage expense | 1,370 |
C.
| Cost of goods sold | 1,370 | |
| Merchandise inventory | 1,370 |
D.
| Cost of goods sold | 90,450 | |
| Merchandise inventory | 90,450 |
E.
| Purchases discounts | 1,370 | |
| Cost of goods sold | 1,370 |