Describe the advantage of establishing a line of credit.
What will be an ideal response?
A line of credit enables a company to borrow or repay funds as needed.
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The average rate of return method of capital investment analysis gives consideration to the present value of future cash flows
Indicate whether the statement is true or false
Failure of a defendant to respond to a complaint is called a summary judgment
Indicate whether the statement is true or false
Claymore Corp. has the following information about its standards and production activity for September. The controllable variance is: Actual total factory overhead incurred$28,175 Standard factory overhead: Variable overhead$3.10 per unit producedFixed overhead ($12,000/6,000 estimated units to be produced)$2 per unitActual units produced 4,800 units
A. $1,295U. B. $2,400F. C. $1,295F. D. $2,400U. E. $3,695U.
One important ____ of accounting is that personal assets must be kept separate from business assets
A) principal B) principle