Limited liability companies (LLCs) are governed by state LLC statutes
a. True
b. False
Indicate whether the statement is true or false
True
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In a transfer without recourse the transferor retains the risk of ownership and bears any loss from nonpayment
Indicate whether the statement is true or false
The capital lease method classifies the portion of the lease payment related to interest expense as an ________use of cash and the portion related to a reduction in the lease liability as a _________ use of cash
a. operating; investing b. operating; financing c. financing; investing d. investing; financing e. financing; operating
Fischer Company identified the following activities, costs, and activity drivers:ActivityExpected CostsExpected ActivityHandling parts$425,00025,000 parts in stockInspecting product$390,000940 batchesProcessing purchase orders$220,000440 ordersDesigning packaging$230,0005 modelsa. Compute a plantwide overhead rate assuming the company assigns overhead based on 70,000 budgeted direct labor hours (Round to two decimals).b. Compute separate rates for each of the four activities using the activity-based costing.
What will be an ideal response?
A decrease in the level of production results in decreased fixed cost per unit
Indicate whether the statement is true or false