A liability is a probable future payment of assets or services that a company is presently obligated to make as a result of past transactions or events.
Answer the following statement true (T) or false (F)
True
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Emerald Corporation's overhead budget for 2013 was as follows: Factory supervision $450,000 Utilities costs 250,000 Insurance 30,000 Property taxes 25,000 Depreciation 125,000 Total $880,000 750,000 units were produced in 2013. Direct labor cost is $42,000,000. For both 2013 and 2014, each unit required 4 direct labor hours at $14 per hour. In 2014, property taxes, insurance, and depreciation are
expected to stay at 2013 levels. Utilities costs vary proportionally with units produced. Factory supervision increases by increments of $45,000 for every 300,000 increase in direct labor hours. The 2014 expected production is 1,200,000 units. What will be the value for factory supervision of Emerald in the 2014 overhead budget? A) $720,000 B) $270,000 C) $450,000 D) $990,000
According to Chandler, unless ______ follows _______, inefficiency rules.
a. Structure/strategy b. Planning/rationality c. Strategy/structure d. None of the above
Any kind of notice of dishonor that informs the recipient of potential liability is sufficient
a. True b. False Indicate whether the statement is true or false
A foreign company, partially owned by that foreign government, manufactures televisions in the foreign country. The cost to the company for the manufacture of the product is the equivalent of $60 in the U.S. Because of excess production, the firm exports 50,000 sets to the United States where they are sold for $75 each. If the nearest rival U.S.-made set sells for $85, the action of the foreign
company: a. constitutes price-fixing. b. violates the GAAT anti-dumping provisions. c. violates the Sherman Act, because of the involvement of the foreign government in the company. d. appears to be legal.