________ model is the basic model used to create a framework for an economic feasibility analysis
A) The capital budgeting
B) The cash budgeting
C) The cost/benefit
D) The profit margin
Answer: A
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The audit committee of the board of directors provides direct contact between the ______________________________ and the ________________________________________
Fill in the blank(s) with correct word
The auditor should have a sound basis, supported by objective evidence, regarding accounting estimates and should not fall victim to an "all estimates are subjective" argument in order to waive which of the following?
a. Contingent liability. b. Material misstatements. c. Unrecorded liability. d. Material adjustments.
A time line is not meaningful unless all cash flows occur annually.
Answer the following statement true (T) or false (F)
Leaper Corporation uses an activity-based costing system with the following three activity cost pools:Activity Cost PoolTotal ActivityFabrication 40,000 machine-hoursOrder processing200 ordersOtherNot applicableThe Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs.The company has provided the following data concerning its costs: Wages and salaries$360,000Depreciation 140,000Occupancy 160,000Total$660,000The distribution of resource consumption across activity cost pools is given below: Activity Cost Pools?AssemblySetting UpOtherTotalWages and salaries35%40%25%100%Depreciation5%55%40%100%Utilities30%45%25%100%The activity rate for the Order Processing activity cost pool is closest to:
A. $1,465 per order B. $1,540 per order C. $1,485 per order D. $1,320 per order