How is the accounting equation affected when a partner withdraws cash?
A) Both equity and assets decrease; liabilities are not affected.
B) Assets increase and equity decreases; liabilities are not affected.
C) Both assets and liabilities decrease; equity is not affected.
D) Liabilities decrease and assets increase; equity is not affected.
A) Both equity and assets decrease; liabilities are not affected.
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Weirick, Inc., manufactures and sells two products: Product T8 and Product P4. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity: EstimatedExpected ActivityActivity Cost PoolsActivity MeasuresOverhead CostProduct T8Product P4TotalLabor-relatedDLHs$132,4641,4005,4006,800Production ordersorders 32,6045007001,200Order sizeMHs 762,1064,3004,0008,300 $927,174 The total overhead applied to Product T8 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $435,683 B. $190,890 C. $168,578 D. $394,826
The Cash Over and Short account:
A. Is not necessary in a computerized accounting system. B. Can never have a debit balance. C. Is used to record the income effects of errors in making change and/or processing petty cash transactions. D. Is used when the cash account reports a credit balance. E. Can never have a credit balance.
The product life-cycle concept from microeconomics and marketing provides useful insights into the relations between cash flows from operating, investing, and financing activities. During the introduction phase
a. cash inflow exceeds cash outflow for operations . b. cash outflow exceeds cash inflow for operations. c. cash inflow exceeds cash outflow for investing activities. d. cash outflow exceeds cash inflow for financing activities. e. cash inflow exceeds cash outflow for financing activities.
Data envelopment analysis indicates which type of service unit makes the highest profit
Indicate whether this statement is true or false.