Which of the following circumstances would be a valid reason to estimate the amount of inventory that is on hand at the end of the period?
A. To test for financial statement manipulation
B. To avoid taking a physical count of inventory
C. To complete the company's annual income tax return
D. All of the answer choices are valid reasons for estimating the ending inventory.
Answer: A
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The opportunities for ________ provided by the Internet have helped many companies in the financial services area address the problem of the inseparability of services.
A. capacity management B. servicescape management C. transactional marketing D. place marketing E. disintermediation
Answer the following statements true (T) or false (F)
1. A team created to broaden the information base for managerial decisions is known as a recommendation team. 2. A maintenance crew is an example of an action team. 3. A work team may be self-managed, cross-functional, virtual, or even all of these at the same time. 4. A cross-functional team is staffed with specialists pursuing a common objective.
A lockbox plan is most beneficial to firms that
A. have widely dispersed manufacturing facilities. B. have a large marketable securities portfolio and cash to protect. C. receive payments in the form of currency, such as fast food restaurants, rather than in the form of checks. D. have customers who operate in many different parts of the country. E. have suppliers who operate in many different parts of the country.
Anniston Co. planned to produce and sell 40,000 units. At that volume level, variable costs are determined to be $320,000 and fixed costs are $30,000. The planned selling price is $10 per unit. Anniston actually produced and sold 42,000 units.Using a contribution margin format:(a) Prepare a fixed budget income statement for the planned level of sales and production.(b) Prepare a flexible budget income statement for the actual level of sales and production.
What will be an ideal response?