In the case of a railroad worker accident brought to court in the 1900s, one of the defenses the railroad company used against the plaintiff was the "fellow-servant" doctrine. What does this refer to??
A) ?The claims for such incidents are usually settled out-of-court, as between fellows
B) ?The company is not a separate entity above the employee, but a colleague and a caretaker.
C) ?The injured employee had assumed responsibility of the risks involved.
D) ?The accident is attributed to the negligence of the co-worker.
D
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Which of the following budgets should be prepared before the others listed?
a. Cost of goods manufactured budget b. Cash budget c. Production budget d. Overhead budget
The beginning balance of the shareholders' equity account Retained Earnings plus net income from the income statement less dividends equals the ending balance of Retained Earnings
Indicate whether the statement is true or false
Star Moving Systems, Inc has provided the following details for direct materials purchased on account in different months
Jan $35,000 Feb 28,000 March 34,000 April 39,000 May 32,000 June 29,000 The terms of payment offered by the suppliers are to pay 70% in the month of purchase and 30% in the following month. Calculate the payments on account made during the first six months. What will be an ideal response
Reversing entries:
A. Are required only if the company uses accounting software to record journal entries. B. Are necessary when journal entries have been incorrectly recorded. C. Will often result temporarily in abnormal account balances in some accounts. D. Must be made before preparing the post-closing trial balance. E. Are a required step in the accounting cycle.