An information system is one of the five components by which a company can achieve its internal control objectives
Indicate whether the statement is true or false
TRUE
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Gardella Corporation has two divisions: Domestic Division and Foreign Division. The following data are for the most recent operating period: Domestic DivisionForeign Division Sales$210,000$270,000 Variable expenses$90,300$86,400 Traceable fixed expenses$90,000$121,000 Common fixed expense$37,800$48,600 The common fixed expenses have been allocated to the divisions on the basis of sales. The Foreign Division's break-even sales is closest to:
A. $470,663 B. $177,941 C. $249,412 D. $305,000
In MOST companies, accounting is the only responsibility of the finance department
Indicate whether the statement is true or false
How long to finance a car is a(n) ________ between needs and the ability to afford the monthly payments.
A) warranty B) question C) inconstancy D) balance E) constancy
Assume that the facts provided above with respect to the Jinxtor joint venture remain unchanged except that John receives $200,000 in return for investing its plant and equipment. What would be the amount of the unrealized gain?
John Inc and Victor Inc. formed a joint venture on January 1, 2016. John invested plant and equipment with a book value of $500,000 and a fair value of $800,000 for a 30% interest in the venture which was to be called Jinxtor Ltd. Victor contributed assets with a fair value of $2,000,000 (including $200,000 in cash) for its 70% stake in Jinxtor. Jinxtor reported a net income of $3,000,000 for 2016. John's plant and equipment were estimated to provide an additional 5 years of utility to Jinxtor. The transactions set out above were considered to be of commercial substance. A) Nil B) $67,500 C) $225,000 D) $142,500