The excess of sales price of treasury stock over its cost should be credited to:
A) Treasury Stock Receivable
B) Premium on Capital Stock
C) Additional Paid-In Capital
D) Income from Sale of Treasury Stock
C
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Which of the following budgets must managers prepare before they can prepare a direct materials purchases budget?
A) Labor budget B) Overhead budget C) Production budget D) Cost of goods manufactured budget
Spencer’s manager, who is the owner of the business, asked Spencer to record some of the manager’s personal expenses as business expenses to make the expenses deductible for income tax. Since this practice is illegal, Spencer refused to do it. He was fired. It would appear that Spencer’s right to ______ was violated.
A. free consent B. due process C. life and safety D. freedom of conscience
________ cost is revenue that is foregone from an alternative use of an asset
a. Differential b. Sunk c. Relevant d. Opportunity
A manufacturer or wholesaler, in attempting to illegally enforce vertical price fixing, may _____
a. conspire with other manufacturers to set retail prices b. utilize fair trade protection c. own its retail facilities d. refuse to sell goods to price-cutting retailers