If the issuer and the person paying an instrument subject to the impostor rule are both negligent, comparative negligence would apply
a. True
b. False
Indicate whether the statement is true or false
True
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If special journals are used, there is no need to use a general journal
Indicate whether the statement is true or false
A job was budgeted to require 3 hours of labor per unit at $11.00 per hour. The job consisted of 8,000 units and was completed in 22,000 hours at a total labor cost of $269,500. What is the direct labor rate variance?
A. $6,000 unfavorable. B. $16,000 unfavorable. C. $22,000 favorable. D. $16,000 favorable. E. $27,500 unfavorable.
Houseman, Inc. anticipates sales of 50,000 units, 48,000 units, and 51,000 units in July, August, and September, respectively. Company policy is to maintain an ending finished-goods inventory equal to 40% of the following month's sales. On the basis of this information, how many units would the company plan to produce in July?
A. 49,200. B. 49,800. C. 52,200. D. 46,800. E. None of the answers is correct.
Denise has an idea for a freelance technical writing business that would provide text for technical journals and websites. She can write anywhere she can connect to the Internet, which will give her flexibility to participate in her other interests. She would not need an office outside of the home because she could see clients at their place of business or talk to them via Skype or another conferencing modality. She does not want to share control of the business because she feels this would harm her creativity. There are no liabilities and very few start-up costs-she already has a computer with an Internet connection. She would like to start her freelance business tomorrow and has prepared emails to send out to potential clients and a web-site, and secured various social media sites to
promote the business. What would be the best business form for Denise's business? A. Partnership B. Limited-liability company C. Sole proprietorship D. Limited partnership