Which of the following is an example of a deferral?
a. Income taxes recorded but not yet paid
b. The purchase of a company vehicle
c. Legal fees earned but not yet collected
d. The accumulation of interest in a bank account
B
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) Carbamate Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments—Mixing, Refining, and Packaging. On January 1, the Refining Department had 2000 gallons of partially processed product in production. During January, 31,000 gallons were transferred in from the Mixing Department, and 32,000 gallons were completed and transferred out. At the end of the month, 1000 gallons of partially processed product remained in the Refining Department. The weighted-average method is used. See additional details below.
Refining Department, ending balance at January 31 Percent completed for materials cost: 90% Percent completed for conversion cost: 76% What was the total number of equivalent units of production for conversion costs for the month of January for the Refining Department? A) 760 units B) 32,760 units C) 32,000 units D) 900 units
A private civil Racketeer Influenced and Corrupt Organizations Act (RICO) based on securities fraud can only be brought once the defendant has been convicted for the crime
Indicate whether the statement is true or false
Which needs theory holds that our needs are shaped over time and formed by our experiences and cultural background?
a. Maslow’s hierarchy of needs b. Alderfer’s ERG Theory c. Herzberg’s two-factor theory d. McClelland’s acquired needs theory
The property to be received in a like-kind exchange must be identified within:
A. 180 days after the transfer of the property relinquished in the exchange. B. 45 days after the transfer of the property relinquished in the exchange. C. There is no time limit to identify the property to be received. D. 90 days after the transfer of the property relinquished in the exchange.