Capitalizing a lease?
A. ?reduces income
B. ?reduces equity
C. ?increases current assets
D. ?increases debt
Answer: D
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The _____ of a specific raw material is the optimal quantity that allows a business to minimize overstocking and save cost, without risking understocking and missing production deadlines.
A. targeted market list (TML) B. bill of materials (BOM) C. economic order quantity (EOQ) D. convenient order quantity (COQ)
Which of the following terms best identifies the function of standard costs where any deviation from standards can be quickly detected and responsibility pinpointed so appropriate action may be taken?
a. Management by exception b. Contribution approach c. Marginal costing d. Standardized accounting system
Mary Sunny, the sole stockholder, began business as Sunny Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided. Next, prepare a trial balance as of November 30. a) Mary invested $15,000 cash and a law library valued at $6,000 in exchange for common stock.b) Purchased $7,500 of office equipment from John Bronx on credit.c) Completed legal work for a client and received $1,500 cash in full payment.d) Paid John Bronx $3,500 cash in partial payment of the amount owed.e) Completed $4,000 of legal work for a client on credit.f) Paid $2,000 in cash dividends.g) Received $2,500 cash as partial payment for the legal work completed for the client in (e).h) Paid $2,500 cash for the secretary's salary. src="https://sciemce.com/media/4/ppg__550826190855__f1q461g1.jpg" alt="" style="vertical-align: 0.0px;" height="321" width="593" />
What will be an ideal response?
In applying the treasury stock method of computing diluted earnings per share, when is it appropriate to use the average market price of common stock during the year as the assumed repurchase price?
a. Always b. Never c. When the average market price is lower than the exercise price d. When the average market price is higher than the exercise price