Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months of the year: September$830,000??October$940,000November$860,000December$780,000?At Acti, 40% of raw materials purchases are normally paid for in the month of purchase. The remaining 60% is paid for in the month following the purchase.?How much cash should Acti expect to pay out for raw material purchases during November?
A. $564,000
B. $438,000
C. $908,000
D. $344,000
Answer: C
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The trustee for the Bronson Corporation pension sent a report to the CEO with the following information for the fiscal year: Beginning balance of plan assets at fair value$1,560,000 Actual return on plan assets$210,000 Employer's contribution$150,000 Distributions to retirees$75,000 Service cost$125,000 Interest cost$156,000 Loss from changes in benefits or assumptions$35,000 Beginning balance of the PBO$1,580,000 At the beginning of the year, the pension plan is:
A. overfunded by $20,000. B. underfunded by $35,000. C. overfunded by $35,000. D. underfunded by $20,000.
The direct method of reporting cash flows from operating activities involves reconciling net income and cash flow from operations
a. True b. False Indicate whether the statement is true or false
According to the Case: Judy Vredenburgh, CEO of Girls Inc., she advises leaders who move from profit to nonprofit organizations to use
a. a more collaborative, shared leadership style b. she recommends against using the old command and control approach, but at the same time, she believes everyone needs to be clear about goals, time lines, and who does what c. both “a” and “b” d. none of the above
If the contract does not state otherwise, standard goods under a contract for sale to meet the satisfaction of the buyer must:
a. meet the buyer's actual satisfaction, if honest and in good faith, even if unreasonable. b. meet the buyer's actual satisfaction, only if reasonable. c. meet a subjective standard. d. satisfy a reasonable person.