Kingcade Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: HoursWait time18.3Process time1.1Inspection time0.1Move time2.0Queue time9.1The delivery cycle time was:
A. 2 hours
B. 29.4 hours
C. 30.6 hours
D. 11.1 hours
Answer: C
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A contingency must be accrued in the accounts and reported in the financial statements when
a. the amount of the loss can be reliably estimated and it is probable that an asset is impaired or a liability incurred. b. it is evident that an asset has been impaired or a liability has been incurred even though the amount of the loss cannot be reliably estimated. c. it is not certain that funds will be available to settle damages that may arise from a pending lawsuit. d. a loss is expected and its amount is uncertain.
Answer the following statement(s) true (T) or false (F)
1. Work groups are social systems that have boundaries with members who have different roles and are dependent on each other. 2. Group members bring two types of resources to groups: personal attributes, including personality, values, and attitudes, and their skills and abilities, both technical and social. 3. If a group is structured as a crew, it focuses on the completion of a specific project, typically within a limited time frame. 4. If a group is structured as a crew, it focuses on the tools required to perform a task, and the appropriate use of the tools specifies the interaction among group members. 5. If a group is structured as an organizational team, it focuses on the interrelationships among the group members.
Deep divisions in society such as between the Hutus and Tutsis in Africa and the Shiites and Sunnis in Iraq contribute to political risk and would be captured by the ____________________________.
(a) Political Risk Index (b) Fractionalization Index (c) Z quotient (d) Operations Coefficient (e) F Factor
Rushmore Company provided services for $21,000 cash during Year 1. Rushmore incurred $16,000 of operating expenses on account during Year 1, and by the end of the year, $5000 of that amount had been paid with cash. If these are the only accounting events that affected Rushmore during Year 1, which of the following statements is true?
A. The amount of net income shown on the income statement is $5000. B. The amount of net cash flow from operating activities shown on the statement of cash flows is $10,000. C. The amount of net loss shown on the income statement is $5000. D. The amount of net income shown on the income statement is $11,000.