Which of the following is NOT a pillar of character according to the Josephson Institute?
A. Respect
B. Caring
C. Citizenship
D. Judgmental
Answer: D
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Analytical procedures may indicate that new controls need to be designed before completing the audit
a. True b. False Indicate whether the statement is true or false
The rise of megaretailers has shifted the balance of power between retailers and producers. Since megaretailers have access to numerous consumers, they have significant power when dealing with manufacturers
Indicate whether the statement is true or false
An oral agreement is enforceable indefinitely.
Answer the following statement true (T) or false (F)
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. The estimated net operating income (loss) for February is closest to: (Round your intermediate calculations to 2 decimal places.) A. $11,620 B. $81,620 C. $29,640 D. $41,000