Accounting information should provide a fair and complete representation about a number of a firm's characteristics. Which of the following is not one of those characteristics?
a. risk
b. position
c. performance
d. conservatism
D
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Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit$97Budgeted unit sales (all on credit): January 10,000February 12,000March 13,300April 15,200? Raw materials requirement per unit of output 4poundsRaw materials cost$1.00per poundDirect labor requirement per unit of output 2.5direct labor-hoursDirect labor wage rate$23.00per direct labor-hourPredetermined overhead rate (all variable)$9.00per direct labor-hourVariable selling and administrative expense$3.10per unit soldFixed selling and administrative expense$70,000per month?Credit sales are collected: 30% in the month of the sale 70% in the following month?Raw materials
purchases are paid: 30% in the month of purchase 70% in the following month?The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.?The budgeted required production for February is closest to: A. 12,390 units B. 12,000 units C. 19,590 units D. 15,990 units
When LIBOR is used as the discount rate:
A. A swap is worth zero immediately after a payment date B. A swap is worth zero immediately before a payment date C. The floating rate bond underlying a swap is worth par immediately after a payment date D. The floating rate bond underlying a swap is worth par immediately before a payment date
Legal standards, in the area of drug testing, are:
a. similar in most states that adopted the Uniform Drug Testing Policy Act b. subject mainly to Department of Labor regulations c. entirely federal; the states may not regulate this area d. different in various states e. none of the other choices
The VLOOKUP with range set to _____ takes the first argument and searches the first column of the table for the last row that is strictly less than the first argument
a. FALSE b. TRUE c. LESS d. NULL