A major difference between FIFO and average costing is:
a. The number of equivalent units in ending work in process.
b. It is not possible to use FIFO when there is more than one department.
c. FIFO separates beginning inventory from current production.
d. The current month's cost of production will be less.
c
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At the beginning of 2017, Laura Company issued 10-year bonds with a face value of $4,000,000 due on December 31, 2022. The company will accumulate a fund to retire these bonds at maturity. It will make ten annual deposits to the fund beginning on December 31, 2017. How much must the company deposit each year, assuming that it will earn 12% interest compounded annually?
A) $363,636.36 B) $227,936.65 C) $226,008.92 D) $203,514.87
Haley requires all applicants take a paper-and-pencil test with logic and math problems on it. Haley is giving her applicants a(n) ______ test.
A. honesty B. skills C. personality and interest D. cognitive ability
Which of the following is/are true?
a. Comprehensive income equals the net amount of revenues, expenses, gains, and losses during an accounting period. b. Authoritative guidance classifies revenues and expenses arising from a firm's core business as components of net income. c. Net income includes gains and losses from sales or exchanges of assets or settlements of liabilities related incidentally or peripherally to the firm's core business. d. Authoritative guidance classifies gains and losses from the remeasurement of certain assets and liabilities as either net income or other comprehensive income. e. all of the above
A bond is an issuer's written promise to pay an amount identified as the par value of the bond along with periodic interest payments.
Answer the following statement true (T) or false (F)