Factory Overhead has a zero balance after all adjustments, so it is not necessary to close the account at the end of the accounting period
a. True
b. False
Indicate whether the statement is true or false
False
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Which account is always carried over from the unadjusted trial balance columns of a work sheet to the balance sheet columns of the work sheet without any adjustment?
a. Accumulated depreciation b. Depreciation expense c. Cash d. All of these are adjusted.
We are interested in determining what type of model best describes the relationship between two variables x and y.
a.For a given data set, an estimated regression equation relating x and y of the form
= b0 + b1x was developed using Excel. The results are shown below. Comment on the adequacy of this equation for predicting y. Let ? = .01.
?
SUMMARY OUTPUT
Regression Statistics
Multiple R0.5095
R Square0.2596
Adjusted R Square0.1362
Standard Error2.0745
Observations8
?
ANOVA ?
df
SS
MS
F
Significance F
Regression1
9.0536
9.0536
2.1037
0.1971
Residual6
25.8214
4.3036
Total7
34.875
?
Coefficients
Standard Error
t Stat
P-value
Intercept2.7857
1.6164
1.7234
0.1356
x0.4643
0.3201
1.4504
0.1971
?
b.An estimated regression equation for the same data set (as in part a) of the form
= b0 + b1x + b2x2 was developed. The Excel output is shown below. Comment on the adequacy of this equation for predicting y. Let ? = .01.
?
SUMMARY OUTPUT
Regression Statistics
Multiple R0.9680
R Square0.9370
Adjusted R Square0.9118
Standard Error0.6628
Observations8
ANOVA ?
df
SS
MS
F
Significance F
Regression2
32.6786
16.3392
37.1951
0.0010
Residual5
2.1964
0.4393
Total7
34.875
?
Coefficients
Standard Error
t Stat
P-value
Intercept-2.8393
0.9247
-3.0706
0.0278
x3.8393
0.4714
8.1437
0.0005
x-squared-0.375
0.0511
-7.3335
0.0007
?
c.Use the results of Part b and predict y when x = 4.
What will be an ideal response?
One advantage of a ________ is that it “broadens individual outlook.”
A. group incentive B. executive incentive C. individual incentive D. professional incentive E. benefit
After reviewing Brenda's current financial situation, Ronald, her friend, assesses that she has an unpaid credit card balance of $4,500, on which an annual percentage rate of 15% is applicable. In this case, the best advice that Ronald can give Brenda is to:
A. increase the annual percentage rate on her credit cards. B. switch credit card companies as many companies offer benefits such as frequent-flier miles. C. keep using the card and not to worry about the balance because all interest is tax deductible. D. place a high priority on eliminating her credit card balance as quickly as possible.