On June 1, Apex Co issued a $30,000, 8%, 120-day note payable to Jones Co Assume the fiscal year of Apex Co ends June 30 . What is the amount of interest expense recognized by Apex in the current year?
a. $750.00
b. $166.67
c. $333.33
d. $200.00
d
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The materiality concept states that a company must ________.
A) report only such information that enhances the financial position of the company B) perform strictly proper accounting only for significant items C) report enough information for outsiders to make knowledgeable decisions about the company D) use the same accounting methods and procedures from period to period
For a given level of ?, increasing the sample size will decrease ?, thereby increasing the power of the test
Indicate whether the statement is true or false
What should companies consider when expanding their reach internationally?
a. The challenges of having a homogenous workforce b. Maintaining their culture and norms despite cultural shifts c. Nothing; if they are small companies they will not be affected d. Diversity-related challenges and differing rules and regulations
Assume that an assembly line has three tasks that must be completed (in order, A, B, and C). The tasks have processing times of 12, 15, and 10 minutes per unit, respectively. If the assembly line operates for 480 minutes per day with a desired output of 50 units per day, what is assembly line efficiency?
a. Less than 90% b. 96% c. Greater than 98% d. Cannot be determined from the information given