Working capital is the amount by which current liabilities exceed current assets and measures how efficiently liabilities are used to produce sales
Indicate whether the statement is true or false
False
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Earned but unrecorded revenues are recorded during the adjusting process with a credit to a revenue account and a debit to an expense account.
Answer the following statement true (T) or false (F)
Prime costs are the combination of direct labor costs and factory overhead costs
Indicate whether the statement is true or false
Agostino, Inc. uses a just-in-time costing system. During the month, Agostino incurred $300,000 as direct labor and $9,000 as overhead. Which of the following is the correct journal entry to record the conversion costs?
A) Conversion Costs 309,000 Wages Payable, Accumulated Depreciation, etc. 309,000 B) Conversion Costs 309,000 Wages Payable 309,000 C) Manufacturing Overhead 309,000 Conversion Costs 309,000 D) Conversion Costs 309,000 Accounts Payable 309,000
Just a week into their new jobs in the marketing and advertising division of a cell phone company, Alexa, Nigel, and Laraine were given the task of creating an advertising campaign for the company's new phone. Alexa and Nigel are having a lot of trouble coming up with anything creative, so when Laraine volunteers to take over, they readily agree. Although they know little about Laraine's skills in this area, they believe she will do a good job. Which of the following is true with regard to Alexa and Nigel?
A. Nigel presently shares a mentor-protégé relationship with Laraine. B. They have a high level of cognition-based trust. C. They exhibit a high degree of trustworthiness in executing the job they were given. D. They use a rational assessment to arrive at the conclusion that Laraine will do a good job. E. They have a high degree of disposition-based trust.