Exchanges of plant assets that have commercial substance require any gain or loss on the transaction to be recognized
Indicate whether the statement is true or false
TRUE
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Which of the following is an example of a probing question?
A) "How much time do you currently spend on the telephone?" B) "What type of security system do you currently use?" C) "Would you like me to write up the order to ensure quick delivery?" D) "How does upper management feel about the employee turnover rate?" E) "May I show you how our product works with your current offerings?"
Triangle Catering assigns overhead to specific jobs based on direct labor hours. At the beginning of the current year, estimated overhead costs were $650,000 and estimated direct labor hours were 50,000. By the end of the year, actual overhead costs
were calculated to be $685,000 and actual direct labor hours were 55,000. Required: A. Calculate the predetermined overhead rate. B. How much overhead would be applied to a particular catering job that required 45 direct labor hours? C. How much total overhead was applied during the year? D. By how much was overhead over- or underapplied for the year? Be sure to indicate whether it was over- or underapplied.
Jenny is an officer of a corporation. She made a difficult business decision. When challenged about her decision, the court ruled she had acted in good faith and that the business judgment rule applied. As such A) Jenny will not be held personally liable for any harm her decision has caused the company
B) Jenny's decision will be reviewed by a court. C) Jenny is immune from a lawsuit. D) Jenny must resign from the board.
In the context of Big Data, _____ refers to the trustworthiness of a set of data
a. value b. variability c. veracity d. viability