Describe the six major categories of hardware, and provide an example of each.
What will be an ideal response?
The six major categories of hardware are as follows. Central processing unit (CPU): The actual hardware that interprets and executes the program (software) instructions and coordinates how all the other hardware devices work together (e.g., Intel processor). Primary storage: The computer's main memory, which consists of the random access memory (RAM), cache memory, and the read-only memory (ROM) that is directly accessible to the central processing unit (CPU) (e.g., RAM). Secondary storage: Equipment designed to store large volumes of data for long-term storage (e.g., diskette, hard drive, memory card, CD). Input devices: Equipment used to capture information and commands (e.g., keyboard, scanner). Output devices: Equipment used to see, hear, or otherwise accept the results of information processing requests (e.g., monitor, printer). Communication devices: Equipment used to send information and receive it from one location to another (e.g., modem).
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The entry to record indirect labor costs incurred during the month would include a debit to
a. Wages Payable. b. Factory Overhead. c. Work in Process. d. Materials.
All of the following are external users of accounting information except:
A. Chief executive officer (CEO). B. Customers. C. Lenders. D. Shareholders. E. Board of directors.
Krech Corporation's comparative balance sheet appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$31,000 $28,000 Accounts receivable 18,000 20,000 Inventory 58,000 56,000 Prepaid expenses 12,000 10,000 Total current assets 119,000 114,000 Property, plant, and equipment 374,000 354,000 Less accumulated depreciation 190,000 165,000 Net property, plant, and equipment 184,000 189,000 Total assets$ 303,000 $ 303,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable$13,000 $9,000 Accrued liabilities 52,000 53,000 Income taxes payable 67,000 69,000 Total current
liabilities 132,000 131,000 Bonds payable 76,000 73,000 Total liabilities 208,000 204,000 Stockholders' equity: Common stock 28,000 26,000 Retained earnings 67,000 73,000 Total stockholders' equity 95,000 99,000 Total liabilities and stockholders' equity$ 303,000 $ 303,000 The company's net income (loss) for the year was ($3,000) and its cash dividends were $3,000. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities.Which of the following is correct regarding the operating activities section of the statement of cash flows? A. The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be subtracted from net income B. The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be added to net income C. The change in Prepaid Expenses will be subtracted from net income; The change in Income Taxes Payable will be subtracted from net income D. The change in Prepaid Expenses will be added to net income; The change in Income Taxes Payable will be added to net income
What is probably the most commonly used form during formal performance appraisal?
A. Checklist B. Graphic Rating Scale C. Ranking D. Narrative E. MBO