Iowa enacts a law that restricts certain kinds of advertising to protect consumers from being misled. This law would likely be held by a court to be
A. an unconstitutional restriction of speech.
B. constitutional under the First Amendment.
C. justified by the need to protect individual rights.
D. necessary to protect state interests.
Answer: B
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At the end of the third year of operation, Forgione Corporation has total assets equal to $100,000, liabilities totaling $90,000, and contributed capital of $30,000 . What is the balance in retained earnings?
a. $40,000 (Dr) b. $40,000 (Cr) c. $20,000 (Dr) d. $20,000 (Cr) e. $10,000 (Cr)
The Thomlin Company forecasts that total overhead for the current year will be $15,000,000 and that total machine hours will be 200,000 hours. Year to date, the actual overhead is $15,500,000 and the actual machine hours are 220,000 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, what is that overhead rate?
A) $71 per machine hour B) $78 per machine hour C) $68 per machine hour D) $75 per machine hour
Which of the following is not a reason to allocate overhead?
a. it will increase profitability. b. to motivate the production manager to do the best possible job of controlling overhead. c. to determine the full cost of the items. d. to compare alternative courses of action for management and control.
Which of the following is a secondary effect of communication technologies on organizations?
a. Work design b. Organizational design c. Social relations d. Communication patterns