A company is analyzing its month-end results by comparing it to both static and flexible budgets. During the month, the actual sales price was higher than the expected sales price as per the static budget. This difference results in a(n) ________.
A) favorable flexible budget variance for sales revenues
B) favorable sales volume variance for sales revenues
C) unfavorable flexible budget variance for sales revenues
D) unfavorable sales volume variance for sales revenues
A) favorable flexible budget variance for sales revenues
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In a standard job-order costing system, factory overhead is applied using predetermined rates times actual input
Indicate whether the statement is true or false
Leonard Company paid freight costs to have goods shipped to one of its customers. What effect will the payment of these freight costs have on the company's financial statements? Asset=Liab.+Stk.EquityRev.-Exp.=Net Inc.Stmt ofCash FlowsA.+-=NA+NANA-NA=NA-OAB.-=++NANA-NA=NA-OAC.-=NA+-NA-+=--OAD.-=NA+-NA-NA=NA-IA
A. Option A B. Option B C. Option C D. Option D
A offers to B to sell him a parcel of land for $5,000, stating that the offer will remain open for thirty days. B replies, "I will pay $4,800 for the parcel," and on A's declining that, B writes, within the thirty day period, "I accept your offer to sell for $5,000." ?"I will pay $4,800 for the parcel," is: A)?A counteroffer
B)?An acceptance. C)?Not a rejection. D)?Both a and c
Vorhies identities four perspectives to help CPAs identify key internal control exceptions under the Sarbanes Oxley Act (SOX) including:
A. An internal control deficiency caused by accounting manipulations B. A large variance in an accounting estimate compared with the actual determined amount C. A misstatement that changes a loss into income or vice versa D. All were identified