Which of the following is a characteristic of a true lease?
a. The presence of a provision for the transfer of the title to the lessee
b. The presence of interest as a factor in rental charges
c. Rental charges that are competitive with those charged by other lessors of similar equipment
d. The assumption of the risk of loss by the lessee
ANSWER: C
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Fermentation follows glycolysis in some cells when oxygen is not available.
Answer the following statement true (T) or false (F)
A retailer accepted Visa charge sales totaling $500 and deposited the charge slips in the bank. Assuming a credit card discount expense of 4 percent, what would be the increase to Cash and the increase to Sales, respectively?
a. $500 and $480 b. $480 and $500 c. $480 and $480 d. $500 and $500
The following data were abstracted from the records of Ballistic Corporation for the year: Sales ................................................. $900,000 Bond interest expense ................................. 50,000 Income taxes .......................................... 200,000 Net income ............................................ 300,000 How many times was bond interest earned?
a. 18.0 b. 15.0 c. 11.0 d. 10.0
If the cost of the beginning work in process inventory is $60,000, costs of goods manufactured is $890,000, direct materials cost is $330,000, direct labor cost is $210,000, and overhead cost is $315,000, calculate the ending work in process inventory.
A. $35,000. B. $355,000. C. $25,000. D. $350,000. E. $45,000.