Estimates should be made based on ________ conditions, efficient methods, and a normal level of resources.
Fill in the blank(s) with the appropriate word(s).
normal
Estimates should be based on normal conditions, efficient methods, and a normal level of resources.
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[The following information applies to the questions displayed below.]The Miller Company earned $190,000 of revenue on account during Year 1. There was no beginning balance in the accounts receivable and allowance accounts. During Year 1, Miller collected $136,000 of cash from its receivables accounts. The company estimates that it will be unable to collect 3% of its sales on account.What is the net realizable value of Miller's receivables at the end of Year 1?
A. $59,700 B. $54,000 C. $48,300 D. $49,920
Mark and his brother, Rick, each own farms. Rick is experiencing severe financial difficulties and cannot afford to buy feed for his cattle. Mark purchases $2,000 of feed and gives Rick one-half of the feed. Mark tells Rick that there is no need to repay him and to consider the feed a gift. Which of the following statements is true?
A. Rick must report $1,000 as income. B. Mark can deduct $1,000 for the feed. C. Mark can deduct $2,000 for the feed. D. None of the above is true.
Which of the following values for z should we use in as a safety stock calculation if we want a service probability of 98 percent?
A. 1.96 B. 2.30 C. 1.64 D. 2.05 E. None of these
All of the following represent constraints on the analytical? problem-solving model EXCEPT? ______________.
Fill in the blank(s) with the appropriate word(s).