When we try to experience the world through the eyes of another person by recreating that person’s perspective, we are engaging in which of the following?
A. sympathy
B. empathy
C. selective attention
D. indiscrimination
B. empathy
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Which of the following is an addition to net income when the indirect method is used?
a. an increase in inventory b. a loss on sale of equipment c. a decrease in accounts payable d. an increase in accounts receivable
For accounting purposes, stated value is treated the same way as par value
Indicate whether the statement is true or false
During the current month, Thompson Company started 40,000 units of product and transferred 25,000 fully completed units to finished goods. The final work in process inventory was 50 percent complete as to labor operations. There was no initial work in process, and actual labor hours were 150,000 for the period. Each unit should have required 3 direct labor hours to be produced at standard. The
total standard hours allowed for the period are A) 75,000 hours. B) 97,500 hours. C) 120,000 hours. D) 150,000 hours.
Which of the following is classified as a short-term investment?
A) marketable securities B) real estate investments C) fixed assets D) highly illiquid equity securities that are expected to be held for more than one year