The inventory accounts used in a manufacturing business are
a. merchandise, materials, and work in process.
b. materials, work in process, and finished goods.
c. merchandise, materials, and finished goods.
d. merchandise, work in process, and finished goods.
b
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Which of following is not an action required by Utilitarian Theory?
a. Identify the potential problem. b. Identify the potential impact of actions on each affected party. c. Identify the rights of the affected parties. d. Identify the desirability of each action.
If people in a democracy are provided with educational opportunities and ready access to information, they will usually develop a "hardheaded common sense."
Indicate whether the statement is true or false
Chester Company began Year 2 with a note payable of $20,000 and an interest payable of $800. During the year, the company accrued an additional $400 of interest expense, and paid off the note with interest. What is the amount of cash flows for financing activities that will be reported on the statement of cash flows as a result of these transactions?
A. $21,200 outflow B. $20,400 outflow C. $1,200 outflow D. $20,000 outflow
A rebate is a
A. reduction in price to encourage buyers to pay their bills quickly. B. refund paid to consumers after a purchase. C. document that details pricing changes. D. temporary discount from the list price. E. temporary price cut to attract customers.