Which of the following forms of business organization limits the liability of owners?
A) sole proprietorship B) general partnership
C) two person partnership D) corporation
D
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In estimating the amount of uncollectible accounts the accountant (1) estimates the amount of uncollectible accounts that will likely occur over time in connection with sales of each period and (2) makes an entry debiting Bad Debt expense and crediting Allowance for Uncollectible Accounts. The name of this procedure is/are the
a. percentage-of-sales. b. aging-of-accounts-receivable. c. direct write-off. d. indirect write-off. e. tax accounting.
Describe the relationship between national culture and organizational culture.
What will be an ideal response?
Department J had no work in process at the beginning of the period, 18,000 units were completed during the period, 2,000 units were 30% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period (Assuming the company uses FIFO and rounds average cost per unit to two decimal places): Direct materials (20,000
at $5 ) $ 100,000 Direct labor 142,300 Factory overhead 57,200 Assuming that all direct materials are placed in process at the beginning of production, what is the total cost of the departmental work in process inventory at the end of the period? A) $90,000 B) $283,140 C) $199,500 D) $16,438
The Sarbanes-Oxley Act was passed in 2002 to seek to prevent corporate scandals by increasing corporate responsibility, creating new financial disclosure requirements, creating new criminal offenses, and creating an Accounting Oversight Board
Indicate whether the statement is true or false