With regard to torts, New Zealand differs from the United States in that:
a. events classified as torts in the United States do not occur in New Zealand
b. tort cases result in much higher payments to New Zealand victims than to US victims c. tort cases occur in New Zealand, but result in much lower compensation payments
d. New Zealanders do not bring tort cases because of their history as a British colony e. none of the other choices
e
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One thing that organizational structure must include is:
A) The design of systems for effective communication. B) The standards of performance for all employees. C) The expected outcomes for all projects in the company portfolio. D) The mission and vision statements.
Even if the terms of a contract express such certainty of performance that the promisor has not definitely promised to do anything, the promise binds the promisor
Indicate whether the statement is true or false
Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: MachiningFinishingMachine-hours 19,000 12,000Direct labor-hours 2,000 8,000Total fixed manufacturing overhead cost$136,800$69,600Variable manufacturing overhead per machine-hour$1.80 Variable manufacturing overhead per direct labor-hour $3.20 During the current month the company started and finished Job K928. The following data were
recorded for this job: Job K928:MachiningFinishingMachine-hours 90 10Direct labor-hours 30 50Direct materials$775$415Direct labor cost$630$1,050If the company marks up its manufacturing costs by 20% then the selling price for Job K928 would be closest to: A. $5,130.00 B. $855.00 C. $4,275.00 D. $5,643.00
Daniel, his parents, and three brothers own all the stock of their family farm corporation and each person takes an active role in managing the enterprise. This corporation, which is taxed as a corporation, is most likely A)an S corporation
B)a professional corporation. C)a close corporation. D)a proprietorship.