Ortensia is married to Paolo. Ortensia executes a will, leaving certain property to Paolo and other property to Quito, who is unrelated to Ortensia and Paolo. On Ortensia's death, the share of property given under the will can be renounced by
a. neitherPaolonor Quito.
b. Paoloand Quito.
c. Paolobut not Quito.
d. Quitobut not Paolo.
B
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Which one of the following best defines an external event in terms of accounting?
a. A measured event that must be recognized. b. An event recognized in a set of financial statements. c. A happening of consequence to an entity. d. An interaction between an entity and its environment.
An anti-takeover tactic called a ________ is when a firm offers to buy shares of their stock from a company planning to acquire their firm at a higher price than the unfriendly company paid for it.
A. golden parachute B. poison pill C. scorched earth D. greenmail
Arabica Manufacturing uses a predetermined overhead allocation rate based on the number of machine hours. At the beginning of the year, it estimated total manufacturing overhead costs to be $1,050,000, total number of direct labor hours to be 4000, and total number of machine hours to be 20,000 hours. What was the predetermined overhead allocation rate? (Round your answer to the nearest cent.)
A) $262.50 per machine hour B) $43.75 per direct labor hour C) $52.50 per machine hour D) $65.63 per direct labor hour
Lakeside, Inc. estimated manufacturing overhead costs for the year at $371,000, based on 181,000 estimated direct labor hours. Actual direct labor hours for the year totaled 196,000. The manufacturing overhead account contains debit entries totaling $392,000. The Manufacturing Overhead for the year was ________. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $49,393 underallocated B) $49,393 overallocated C) $9800 underallocated D) $9800 overallocated