Freemen Company's western territory's forecasted income statement for the upcoming year is as follows
Sales revenue $800,000
Variable costs 500,000
Contribution margin $300,000
Fixed costs 496,000
Operating income (loss) $(196,000 )
Freemen Company's management is considering dropping the western territory. This move would be financially advantageous only if the company could eliminate $196,000 of fixed cost.
Indicate whether the statement is true or false
TRUE
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The goal setting process MBO stands for ______.
a. management by observation b. management by objectives c. monitoring by objectives d. management by organization
The amount of income reported for tax purposes
a. is normally greater than the net income reported to stockholders. b. must be computed according to GAAP. c. is used to compute earnings per share. d. may differ from the amount of income determined for financial reporting purposes.
A bond with a par value of $1,000 trading at 98 sells for a discount.
Answer the following statement true (T) or false (F)
Thiess owes Gina $2,000 . Gina owes Web $4,000 . Gina can assign her right to the $2,000 owed her by Thiess to Web, who becomes a third-party beneficiary of the contract
a. True b. False Indicate whether the statement is true or false