Which of the following accounts is not closed?
a. Dividends
b. Common Stock
c. Interest Income
d. Income Summary
B
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An example of a modified rebuy situation would be the purchase of paper clips for a company
Indicate whether the statement is true or false
What is the maximum inventory level?
A company distributes repair parts for high-end appliances. The annual demand is 81,000 and the company operates 300 days per year. The annual carrying cost is 20% of the item cost, which is $500. The ordering cost is estimated at $60 and the shortage cost is $150.
With the use of the methods time measurement approach:
A) stopwatches are needed to time the elements that go together to make a task. B) there is a problem of biased judgment because performance ratings are needed to derive standards. C) work must be broken down into micro-motions. D) an analyst consults tables that contain the select times for a variety of work elements.
In the United States the level of savings is about
A) 50% of income earned. B) 25% of income earned. C) 4.5% of income earned. D) less than 1% of income earned.