A normal cost is incurred when:
A) Overtime is used more than originally planned.
B) Shipments are expedited.
C) Additional temporary workers are brought on site.
D) The aggressive baseline plan is adhered to.
D
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Which of the following sequences of documents or records describes the proper sequence in the accounting cycle?
a. Journal, source documents, ledger, financial statements b. Source documents, journal, ledger, financial statements c. Source documents, ledger, journal, financial statements d. Ledger, source documents, journal, financial statements
Answer the following statements true (T) or false (F)
1. Cumulative sum of errors (CSE) is a measure of variation that must be calculated prior to determining the value of coefficient of determination (R2). 2. The sum of squares of error (SSE) measures the variation not explained by the regression but resulting from other factors or variables. 3. The higher the value of R2, the more confidence we have that the estimate is accurate. 4. The error terms are not normally distributed, with regard to the validity of the linear regression model. 5. Error sum of squares (SSE) is a way to measure forecasting errors.
Corporations face the following tax schedule: Taxable IncomeTax on Base of BracketPercentage on Excess above BaseUp to $50,000$015%$50,000-$75,0007,50025 $75,000-$100,00013,75034 $100,000-$335,00022,25039 $335,000-$10,000,000113,90034 $10,000,000-$15,000,0003,400,00035 $15,000,000-$18,333,3335,150,00038 Over $18,333,3336,416,66735 Company Z has $90,000 of taxable income from its operations, $5,000 of interest income, and $30,000 of dividend income from preferred stock it holds in other corporations. What is Company Z's tax liability? Assume a 70% dividend exclusion for tax on dividends.
A. $20,000 B. $23,096 C. $23,810 D. $19,286 E. $24,048
Verti, a North American country, engages in business with Jerg, a South American country. Verti imports agricultural products from Jerg, whereas Jerg outsources its technological operations to workers in Verti. The two nations are able to carry out these business transactions with minimal tax implications. The given scenario most likely exemplifies the concept of _____.
A. free trade B. e-commerce C. deployment D. internal audit