If there are additional investments by the owner during the period, the balance sheet supplies all the necessary information to prepare the financial statements
Indicate whether the statement is true or false
F
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In using the need-satisfaction sales presentation approach, the needs of the customer should be determined in an initial sales call and then the solution to those needs should be presented in a follow-up sales call
Indicate whether the statement is true or false
Chavez Corporation reported the following data for the month of July:Inventories: BeginningEndingRaw materials$27,000$30,000Work in process$16,000$17,000Finished goods$32,000$47,000 Additional information: Raw materials purchases$66,000Direct labor cost$91,000Manufacturing overhead cost incurred$59,000Indirect materials included in manufacturingoverhead cost incurred$8,000Manufacturing overhead cost applied to Work in Process$58,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is:
A. $66,000 B. $63,000 C. $55,000 D. $69,000
The competitive strategy of an organization determines its ________
A) industry rivals B) global functions C) value chains D) strategic alliances
At the beginning of the year, a company's balance sheet reported the following balances:Total Assets = $195,000; Total Liabilities = $85,500; and Owner's Capital = $109,500. During the year, the company reported revenues of $52,300 and expenses of $34,200. In addition, owner's withdrawals for the year totaled $22,800. Assuming no other changes to owner's capital, the balance in the owner's capital account at the end of the year would be:
A. $104,800. B. $150,400. C. $4700. D. $114,200. E. $75,100.