Every time we fill in a missing perceptual piece, we exhibit what organizational strategy?
A. perceptual constancy
B. figure ground principle
C. closure
D. scripting
C. closure
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How is the balance sheet linked to the other financial statements?
a. The amount of retained earnings reported on the balance sheet is equal to net income. b. Retained earnings is added to total assets and reported on the balance sheet. c. Net income increases retained earnings on the statement of retained earnings, which ultimately increases retained earnings on the balance sheet. d. There is no link between the balance sheet and other statements, as each contains different accounts and provides different information.
For each of the following variances, state which manager is most likely to be responsible for the variance.
The December 31, Year 1, balance sheet of Rowan Company shows current assets of $32,000 and current liabilities of $20,000. On January 1, Year 2, the company recorded the following entries:Cash10,000? Common stock?10,000Cash6,000? Accounts Receivable?6,000After the two journal entries were recorded, what is the company's current ratio?
A. 1.6 to 1 B. 2.1 to 1 C. 2.4 to 1 D. 2 to 1
Sybil, Inc uses a predetermined overhead allocation rate to allocate manufacturing overhead costs to jobs
The company recently completed Job 300X. This job used 11 machine hours and 5 direct labor hours. The predetermined overhead allocation rate is calculated to be $43 per machine hour. What is the amount of manufacturing overhead allocated to Job 300X using machine hours as the allocation base? A) $473 B) $215 C) $688 D) $258