The loss of usefulness because of inadequacy or obsolescence is called ____________________ depreciation
Fill in the blank(s) with correct word
functional
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A combination compensation plan is the most effective method for motivating sales personnel to escalate their selling efforts.
Answer the following statement true (T) or false (F)
Suddenly Salad had the following expenditures related to developing its trademark.General advertising costs$300,000Advertising specifically focused on trademark development120,000Legal fees to register trademark52,000Registration and design fees for the trademark38,000Legal fees for successful defense of the new trademark 33,000Total$543,000During your year-end review of the accounts related to intangibles, you discover that the company has capitalized all the above as costs of the trademark. Management contends that all of the costs increase the value of the trademark; therefore, all the costs should be capitalized.1. Which of the above costs should the company capitalize to the Trademark account in the balance sheet?2. Which of the above costs should the company report as expense in
the income statement? What will be an ideal response?
Phelps Company manufactures custom-designed filtering equipment for swimming pools and tanks. In May 2014, the company incurred the following costs of quality: Product design costs $ 8,600 Product recall costs 5,200 Product simulation costs 13,500 Product testing costs 3,500 Product warranty claims 2,000 Scrap and rework costs 3,000 Total quality costs of conformance for May were
A) $27,600. B) $11,600. C) $25,600. D) $22,100.
Control is the process of monitoring the company's operations to determine whether the company's objectives are being achieved. Effective control is achieved through all of the following except:
A. periodically measuring and comparing company results. B. assigning responsibility for costs to employees responsible for those costs. C. constantly monitoring employees to ensure they do exactly as they are told. D. taking necessary corrective action when variances warrant doing so