Of a company's employees, 75 percent typically qualify to receive two weeks' paid vacation out of 50 working weeks per year. The entry to record the amount of estimated liability for vacation pay for a week in which the total payroll is $9,600 :
a. Estimated Liability for Vacation Pay 144
Cash 144
b. Vacation Pay Expense 288
Estimated Liability for Vacation Pay 288
c. Vacation Pay Expense 7,200
Cash 7,200
d. Cash 256
Estimated Liability for Vacation Pay 256
B
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Most businesses in the United States are
A) sole proprietorships B) partnerships C) corporations D) separate entities
Answer the following statement(s) true (T) or false (F)
1. A trading company occurs when two firms combine their resources in a partnership that goes beyond the limits of a joint venture. 2. Counter trading allows a nation with limited cash to participate in international trade. 3. Direct ownership often results in reduced manufacturing costs and avoidance of export tariffs. 4. When a company modifies an existing product to fit the needs of consumers in foreign countries it is known as dumping. 5. Even decisions involving which media to use for advertising must be adapted to different countries.
In order to fertilize his vegetable farm, John, a farmer, needs to choose from two fertilizers: Nitro Plus and Phosphate Max. Each bag of Nitro Plus costs $7 and contains 8 pounds of nitrogen and 6 pounds of phosphate. Each bag of Phosphate Max costs $9 and contains 4 pounds of nitrogen and 8 pounds of phosphate. John’s vegetable farm requires at least 32 pounds of nitrogen and 48 pounds of phosphate. (Assume fractions of a bag are allowed). At the optimal solution, what is the amount of nitrogen from the Nitro Plus brand?
a. 11.45 b. 12.80 c. 17.65 d. 11.55
Good project managers spend more time talking than listening
a. True b. False Indicate whether the statement is true or false