Commissions and salaries expenses are paid 50% in the month to which they are incurred and the balance in the next month. Rent and miscellaneous expenses are paid as and when they occur. Insurance is prepaid at the beginning of the quarter. Calculate cash payments for the selling and administrative expenses for the first quarter of the next year.
The following details have been extracted from the budget of a merchandising company.
A) $21,100
B) $49,200
C) $70,300
D) $26,200
C) $70,300
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If the market rate of interest is 7%, the price of 6% bonds paying interest semiannually with a face value of $500,000 will be
a. equal to $500,000 b. greater than $500,000 c. less than $500,000 d. greater than or less than $500,000, depending on the maturity date of the bonds
Audit evidence concerning proper segregation of duties ordinarily is best obtained by:
A. preparation of a flowchart of duties performed by available personnel. B. direct personal observation of the employees who apply the control activities. C. inquiring whether control activities operated consistently throughout the period. D. reviewing job descriptions prepared by the Personnel Department.
All of the following must be considered when analyzing results EXCEPT ________
A) reliability B) validity C) future questionnaire use D) margins of sampling error
A(n) ________ provides that certain job preferences will be given to members of minority racial and ethnic groups, females, and other protected-class applicants when making employment decisions
A) retaliation B) affirmative defense C) affirmative action plan D) reasonable accommodation plan