A flexible budget summarizes revenues and costs for various levels of sales volume within a relevant range
Indicate whether the statement is true or false
TRUE
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On December 31, 20X8, Pancake Company acquired controlling ownership of Syrup Company. A consolidated balance sheet was prepared immediately. Partial balance sheet data for the two companies and the consolidated entity at that date follow: PancakeSyrupConsolidated CompanyCompanyEntityCash $80,000 $30,000 $110,000 Accounts Receivable 50,000 ? 78,000 Inventory 60,000 50,000 115,000 Buildings and Equipment 200,000 140,000 365,000 Less: Accumulated Depreciation (50,000) (28,000) (78,000) Investment in Syrup Stock ? Goodwill 15,000 Total Assets $464,000 $230,000 $605,000 Accounts
Payable $60,000 $32,000 $82,000 Wages Payable ? ? 78,000 Notes Payable 100,000 60,000 160,000 Common Stock 100,000 50,000 ? Retained Earnings 154,000 60,000 ? Noncontrolling Interest 31,000 Total Liabilities and Equities ? $230,000 $605,000 During 20X8, Pancake Company provided consulting services to Syrup Company and has not yet paid for them. There were no other receivables or payables between the companies at December 31, 20X8.Based on the information given, what is the amount of unpaid consulting services at December 31, 20X8, on work done by Pancake Company for Syrup Company? A. $15,000 B. $5,000 C. $0 D. $10,000
What is the service-profit chain?
a. the impact of guest satisfaction scores on profit b. the impact of gratuity and bonuses on service level, upselling, and profitability c. the impact of managerial and organizational practices on employee attitudes, customer satisfaction, and profitability d. the impact of positive employees on revenue production
Which of the following statements regarding behavioral research is true?
a. It is a normative approach. b. The main concern of this type of research is how users of accounting information make decisions and what information they need. c. Many studies have shown that there are no discrepancies between normative decision models and the actual decision process of users. d. Since behavioral research is positive in approach, it is impossible to reach a conclusion regarding whether or not the usage of accounting data for decision-making purposes could be improved upon.
Which of the following does NOT explain why sometimes teams do not select the best solution to a problem?
a. Finding the best solution takes too long. b. There are trade-offs among alternative good solutions. c. The problem-solving process is disrupted by emotional issues. d. Decision making is often too rational.