Column aliases can be used in the GROUP BY clause
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is used to calculate the number of units accounted for under first-in, first-out (FIFO) method of inventory valuation of process costing? This is the first department in a company using process costing.
A) Accounted for = Beginning balance + Started and completed + In process B) Accounted for = Beginning balance + Started and completed C) Accounted for = Beginning balance + In process D) Accounted for = Beginning balance + Amount transferred in
Firms may use the allowance method to account for estimated sales discounts, returns, and allowances, as well as for warranties
Indicate whether the statement is true or false
Cotton Corp. currently makes 10,000 subcomponents a year in one of its factories. The unit costs to produce are: Per unitDirect materials $32.50Direct labor 13.00Variable manufacturing overhead 19.50Fixed manufacturing overhead 26.00Total unit cost $91.00An outside supplier has offered to provide Cotton Corp. with the 10,000 subcomponents at an $84.50 per unit price. Fixed overhead is not avoidable. What is the maximum price Cotton Corp. should pay the outside supplier?
A. $65.00 B. $84.50 C. $58.50 D. $91.00
According to the Electronic Funds Transfer Act and Regulation E adopted by the Federal Reserve Board, a bank can send unsolicited electronic funds transfer system (EFTS) debit cards to a consumer only if the cards are not valid for use
Indicate whether the statement is true or false