Which of the following is the correct sequencing of the functions within the managerial cycle?
A. Review - Plan - Implement
B. Review - Control - Plan
C. Plan - Control - Implement
D. Plan - Implement - Control
Answer: D
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The balance sheet contains the major sections (a-k) listed below. A listing of account titles (1-12) follows.
a.Current assetsg.Long-term liabilitiesb.Long-term investmentsh.Other liabilitiesc.Property, plant, and equipmenti.Contributed capitald.Intangible assetsj.Retained earningse.Other assetsk.Accumulated other comprehensivef.Current liabilities income? ____1. Work in process inventory ____2. Trademarks ____3. Sales ____4. Cash surrender value of life insurance policy ____5. Additional paid-in capital on common stock ____6. Deferred tax assets ____7. Accumulated depreciation ____8. Unrealized decrease in value in available for sale securities ____9. Allowance for uncollectible accounts receivable ____10. Interest payable ____11. Sinking fund for preferred stock retirement ____12. Bonds Payable (due in 10 years) ____13.Leased machinery under a capital lease ____ 14. Cost of goods sold? Required:Using the letters (a-k), indicate in which section of the balance sheet each of the accounts (1-14) would be classified. Put parentheses around the letter used if it represents a contra account. If the account does not appear on the balance sheet, place an "X" in the space provided. What will be an ideal response?
Outbound transportation costs per unit tend to be lower than inbound costs, because inbound lot sizes are typically larger
Indicate whether the statement is true or false.
Starwatch Manufacturing sells a number of goods whose selling price is heavily influenced by cost. A recent study of product no. 520 revealed a traditionally-derived total cost of $1,623 and a selling price of $1,850 based on that figure. A newly computed activity-based total cost is $1,215. Which of the following statements is true?
A. All other things being equal, Starwatch should consider increasing its sales price. B. Starwatch should increase the product's selling price to maintain the same markup percentage. C. Product no. 520 could be labeled as being overcosted by Starwatch's traditional costing procedures. D. Generally speaking, the activity-based cost figure is "less accurate" than the traditionally-derived cost figure. E. If product no. 520 is undercosted by traditional accounting procedures, then all of Starwatch's other products must be undercosted as well.
Which of the following is not an element of a tort?
A) A breach of duty B) Proximate cause C) Hostile mens rea D) Injury or damage to the owner of a legally protected interest