Which is NOT an example of current liabilities?
A) Notes payable
B) Accounts receivable
C) Current portion of long-term debt
D) Taxes payable
B
You might also like to view...
A comparison of the amounts for the same item in the financial statements of two or more periods is called horizontal analysis
a. True b. False Indicate whether the statement is true or false
Stress is not likely to result from a mismatch between an employee's talents and the job requirements.
Answer the following statement true (T) or false (F)
A company is considering a new project that will cost $19,000. This project would result in additional annual revenues of $6,000 for the next 5 years. The $19,000 cost is an example of a(n):
A. Uncontrollable cost. B. Opportunity cost. C. Incremental cost. D. Fixed cost. E. Sunk cost.
Adelberg Corporation makes two products: Product A and Product B. Annual production and sales are 500 units of Product A and 1,000 units of Product B. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.4 direct labor-hours per unit and Product B requires 0.2 direct labor-hours per unit. The total estimated overhead for next period is $68,756. The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and General Factory--with estimated overhead costs and expected activity as follows: Expected
ActivityActivity Cost PoolEstimated Overhead CostsProduct AProduct BTotalActivity 1$31,0311,0003001,300Activity 2$22,2491,6003001,900General Factory$15,476200200400Total$68,756 (Note: The General Factory activity cost pool's costs are allocated on the basis of direct labor-hours.) The predetermined overhead rate under the traditional costing system is closest to: A. $23.87 B. $171.89 C. $38.69 D. $11.71