Bonds secured by a mortgage on corporate property are called mortgage bonds
Indicate whether the statement is true or false
T
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Channel stuffing is an improper practice used to boost sales by inducing distributors to buy more inventory than they can promptly resell.
Answer the following statement true (T) or false (F)
Time cards are used by cost accounting to allocate direct labor charges to work in process
Indicate whether the statement is true or false
Budget slack is a condition in which
a. demand is low at various times of the year. b. excess machine capacity exists in some areas of the plant. c. there is an intentional overestimate of expenses or an underestimate of revenues. d. managers grant favored employees extra time off.
A company used straight-line depreciation for an item of equipment that cost $12,000, had a salvage value of $2,000 and a five-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,200 but its total useful life remained the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life:
A. $5,400 B. $2,400 C. $1,000 D. $2,000 E. $1,800