If the carrying value of goodwill is more than its fair value, an impairment loss must be recorded
Indicate whether the statement is true or false
True
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Sarbanes-Oxley requires that the audit committee be composed of
a. At least 50% of key officers who are on the board of directors b. A majority of all of the members of the board of directors c. The outside members of the board of directors and the external auditor d. Entirely outside members of the board of directors
Which of the following is FALSE concerning writing analysis tools of word processing programs?
a. Sentence fragments, passive voice, jargon, and cliches are some types of errors than be detected. b. After reviewing a document, the program can generate the total word count, average sentence length, and readability measures. c. They are more beneficial to writers familiar with the principles of writing than to those who are not. d. Use of the features eliminates the need for the reader to check a passage for grammatical correctness.
The first part record completed in an MRP system is?
a. Level 0 b. Level 1 c. Level 2 d. Level 3
Minor Electric has received a special one-time order for 1,500 light fixtures (units) at $5 per unit. Minor currently produces and sells 7,500 units at $6.00 each. This level represents 75% of its capacity. Production costs for these units are $4.50 per unit, which includes $3.00 variable cost and $1.50 fixed cost. To produce the special order, a new machine needs to be purchased at a cost of $1,000 with a zero salvage value. Management expects no other changes in costs as a result of the additional production. If Minor wishes to earn $1,250 on the special order, the size of the order would need to be:
A. 4,500 units. B. 300 units. C. 1,125 units. D. 2,250 units. E. 625 units.