In the _____ model, the user perceives the database as a collection of records in 1:M relationships, where each record can have more than one parent
a. hierarchical b. network
c. object-oriented d. entity relationship
b
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Answer the following statements true (T) or false (F)
1. Two popular entry-level software packages for accounting information systems are Quickbooks and Excel. 2. Entry-level software packages for accounting information systems are difficult to use and require a complete knowledge of GAAP. 3. Enterprise resource planning systems are software systems that can integrate all of a companys functions, departments, and data into a single system. 4. A disadvantage of a typical enterprise resource planning system is that it cannot be offered through cloud computing. 5. In cloud computing, the accounting software and data are stored on the company's server instead of a third-party server.
Use this information pertaining to Tucson Company to answer the following question. 1. The corporation's Supplies account showed a beginning debit balance of $400 and supplies purchased of $1,600. There were $600 of supplies on hand at year end. 2.Depreciation on a building is estimated to be $10,000. 3.A one-year insurance policy was purchased for $4,000. Six months have passed since the
purchase. 4.Accrued interest on a note receivable amounted to $200. 5.The company received a $3,600 advance payment during the year on services to be performed. By the end of the year, one-third of the services had been performed. The adjusting entry to record the amount of service revenue earned during the accounting period is A) Service Revenue 2,400Unearned Revenue 2,400 B) Unearned Revenue 1,200Service Revenue 1,200 C) Service Revenue 1,200Unearned Revenue 1,200 D) Unearned Revenue 2,400Service Revenue 2,400
A repetitive manufacturing firm is planning on level material use. The following information has been collected. Currently, the firm operates 250 days per year
Annual demand 22,000 Daily demand 88 Daily production 250 Desired lot size (2 hours of production) 63 Holding cost per unit per year $50 a. What is the setup cost, based on the desired lot size? b. What is the setup time, based on $40 per hour setup labor?
Business trusts provide some security in case of bankruptcy by:
a. legally separating the trust from the business that is the beneficiary of its assets b. legally combining the trust and the business that is the beneficiary of its assets c. making it illegal to sue the business d. making it illegal to sue the trust e. none of the other choices are correct