If data are not reliable or not valid, the results of any test or hypothesis
a.Must be true
b.Are inconclusive
c.Are valid in only certain situations
d.Must be interpreted
ANS:B
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Use the information below for Soho Inc for 2016 and 2017 to answer the following question. Equipment, December 31, 2016 $65,000 Equipment, December 31, 2017 72,000 Accumulated depreciation, December 31, 2016 39,000 Accumulated depreciation, December 31, 2017 30,000 During 2016, Soho Inc sold equipment with a cost of $30,000 and accumulated depreciation of $25,000 . A gain of $3,000 was recognized
on the sale of the equipment This was the only equipment sale during the year. What amount would be reported as the cash proceeds from the sale of equipment? a. $2,000 b. $3,000 c. $5,000 d. $8,000
Scanning of questionnaires has allowed Princess Cruises to increase the accuracy of their survey results
Indicate whether the statement is true or false
[The following information applies to the questions displayed below.] Red and White Company reported the following monthly data:Units produced 2,000unitsSales price$25per unitDirect materials$1per unitDirect labor$2per unitVariable overhead$3per unitFixed overhead$8,000in totalWhat is Red and White's contribution margin for this month if 980 units were sold?
A. $18,620 B. $24,500 C. $50,000 D. $21,560 E. $38,000
An advantage to HRAs and FSAs is that
A. employees can accumulate savings with tax deferred until they take the money out at retirement. B. there is no limit to the dollar amount that can be put in those accounts or what the money can be spent on. C. employees pay income tax on the money as it goes into the account, but then it grows tax free until retirement. D. employees do not have to pay income tax on money received from their employers through these accounts.