Tracey, a team member, has noticed that her team cannot meet the planned deadlines and the project will most likely require additional funds in order to be completed. Rather than informing her manager, Tracey should wait and hope that things turn out for the best.
Answer the following statement true (T) or false (F)
False
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Repair Service enters into a contract to fix washing machines in Soapy Suds Company’s coin-operated laundries. Repair breaches the contract. Soapy is awarded compensatory damages. The purpose is to
A. establish, as a matter of principle, that Repair acted wrongfully. B. provide Soapy with funds for a loss beyond the contract. C. provide Soapy with funds for its loss of the bargain. D. punish Repair and deter others from similar acts.
A production department's output for the most recent month consisted of 10,000 units completed and transferred to the next stage of production and 10,000 units in ending Work in Process inventory. The units in ending Work in Process inventory were 50% complete with respect to both direct materials and conversion costs. There were 1,000 units in beginning Work in Process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method.
A. 10,700 units. B. 15,000 units. C. 15,300 units. D. 10,000 units. E. 10,300 units.
The expense recognition (matching) principle requires that expenses get recorded in the same accounting period as the revenues that are earned as a result of the expenses, not when cash is paid.
Answer the following statement true (T) or false (F)
In flowchart analysis, each activity in the process is analyzed for the value it adds to the product or service
Indicate whether the statement is true or false