An express contract ________.
A. must be in writing
B. can only be oral
C. is stated in oral or written words
D. is implied from the behavior of the parties
Answer: C
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Practicing a presentation is critical, as making a mistake or forgetting something during the presentation can make the speaker seem unprepared and lacking in confidence
Indicate whether the statement is true or false.
Regarding net pay, which of the following statements is incorrect?
A) The net pay amount is not important for accounting purposes. B) The amount of compensation that the employee actually takes home is net pay. C) The employer either writes a paycheck to each employee for his or her net pay or directly deposits the employee's net pay into the employee's bank account. D) Net pay equals gross pay minus all deductions.
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:a.The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. b.Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. c.The ending finished goods inventory equals 30% of the following month's sales. d.The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $4.00 per pound. e.Regarding raw materials purchases, 40% are paid for in
the month of purchase and 60% in the following month. f.The direct labor wage rate is $23.00 per hour. Each unit of finished goods requires 2.6 direct labor-hours. g.Manufacturing overhead is entirely variable and is $8.00 per direct labor-hour. h.The variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $70,000. If the budgeted cost of raw materials purchases in February is $222,180, then the budgeted accounts payable balance at the end of February is closest to: A. $117,912 B. $88,872 C. $222,180 D. $133,308
Luhan was surprised at work today with a cash bonus. As the account executives were preparing to leave the office, their district manager distributed $100 bills and thanked everyone for their efforts. Luhan was incredibly surprised - he had no idea the company would hand out cash as an incentive or reward. He's wanted a certain pair of shoes he saw at the store but couldn't really justify the purchase. However, since he's received this unexpected cash bonus, Luhan decides to stop by the shoe store after work to purchase the shoes. Luhan's purchasing decision is influenced by which category of situational factors?
A. His mood and condition B. Social surroundings C. Time perspective D. Physical surroundings