What was the first pension accounting standard?
a. FASB Interpretation 3
b. ARB 36
c. SFAS No. 87
d. ERISA
ANSWER: B
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Which of the following accounts are normally reported as noncurrent liabilities on a classified balance sheet?
a. Notes payable due in 5 years and bonds payable b. Interest payable and mortgage payable c. Income taxes payable and salaries payable d. Capital stock and accounts payable
When wanting to improve the retention of information on the slide, or stimulate a variety of emotions, what design element should be incorporated?
A) Background designs B) Color C) Artwork D) Typeface variety E) Animation
Discuss the advantages and disadvantages of advertising
What will be an ideal response?
The Equinox Fabrication Plant suffered a fire incident in August, and most of the records for the year were destroyed
The following accounting data for the year were recovered: Total manufacturing overhead estimated at the beginning of the year $103,520 Total direct labor costs estimated at the beginning of the year $185,000 Total direct labor hours estimated at the beginning of the year 3,500 direct labor hours Actual manufacturing overhead costs for the year $99,570 Actual direct labor costs for the year $150,000 Actual direct labor hours for the year 2,950 direct labor hours The company bases its manufacturing overhead allocation on the number of direct labor hours. What was the predetermined overhead allocation rate for the year? (Round your answer to the nearest cent.) A) $35.09 B) $1.86 C) $29.58 D) $62.71