A firm is considering adding a second secretary to answer phone calls and make appointments. The cost of the secretary will be $10/hour and she will work 200 hours each month

If each new client adds $400 of profit to the firm, how many clients must the secretary arrange for the firm to break even?


BEP= 10(200 )/(400 ) = 5 clients per month

Business

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The payee of a note recognizes ____________________ on its income statement

Fill in the blank(s) with correct word

Business

The direct write-off method frequently results in the bad debt expense being recognized in the year subsequent to the sale, and thus results in a proper matching of expense with revenue

Indicate whether the statement is true or false

Business

When copyrighted material is used for purposes of criticism, news reporting, teaching, scholarship, and research, what does it constitute?

A) fair use B) infringement C) commissioned work D) publicity

Business

Which of the following items does not represent a difference between financial and managerial accounting?

A. Timeliness of information. B. Managerial accounting does not use the financial information from the financial accounting system. C. Users of the information. D. Flexibility of reporting.  E. Focus of the information.

Business