On a break between classes, Linda checks her smartphone and enters her contact information on the Publishers Clearing House site. She doubts that she will win $10 million, but she never passes up a chance to participate in a
A. lottery.
B. consumer contest.
C. game of chance.
D. sales contest.
E. sweepstakes.
Answer: E
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Corporate ownership by an investor is evidenced by:
A. coupon payments. B. common stocks. C. corporate bonds. D. the receipt of capital gains. E. property rights.
The Lauren Company's payroll summary showed the following in November: Sales department salaries $10,000 Supervisor salaries 20,000 Assembly workers' wages 45,000 Machine operators' wages 35,000 Maintenance workers' wages 15,000 Accounting department salaries 5,000 What amount would be included in direct labor in November?
a. $25,000 b. $80,000 c. $45,000 d. $140,000
Brendan Company sold merchandise worth $1,600 on credit, terms n/15. The merchandise sold had cost $1,100. What is the required journal entry to record the transaction under the perpetual inventory system?
A) Accounts Receivable 1,600 Sales 1,600Cost of Goods Sold 1,100Merchandise Inventory 1,100 B) Sales 1,600 Accounts Receivable 1,600Merchandise Inventory 1,100Cost of Goods Sold 1,100 C) Accounts Receivable 1,600 Merchandise Inventory 1,600Cost of Goods Sold 1,100Merchandise Inventory 1,100 D) Merchandise Inventory 1,600 Sales 1,600Cost of Goods Sold 1,100Merchandise Inventory 1,100
Which of the following types of process is correctly described?
A. A project process is used when the product is unique and typically produced one at a time to the customer’s specifications. B. A job-shop process is used when the processing requirements are identical for each product. C. A continuous process is used when the production process runs from beginning to end of each working day. D. A flexible process is used when the same resources and equipment can be used to produce entirely different products, ranging from refining oil to producing automobiles.