The United States is an example of a country with low power distance.
Answer the following statement true (T) or false (F)
True
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Held-to-maturity securities are valued on the balance sheet at
A) original cost. B) fair value. C) maturity value. D) cost adjusted for the effects of interest.
Hofstede describes his pragmatic versus normative dimension as dealing with Virtue regardless of Truth.
Answer the following statement true (T) or false (F)
The provisions of IFRS require firms to classify marketable securities into which of the following categories except
a. held to maturity investments for which a firm has both the intent and the ability to hold to maturity—shown on the balance sheet at an amount based on acquisition cost, but subject to impairment. b. debt and equity securities held as financial assets at fair value through profit or loss, shown on the balance sheet at fair value, with changes in fair value of securities held at the end of the accounting period reported each period in net income. c. debt and equity securities held as available-for-sale financial assets, shown on the balance sheet at fair value, with unrealized changes in fair value of securities held at the end of the accounting period included in other comprehensive income, and realized changes in fair value included in net income when a firm sells the securities. d. debt and equity securities held as available-for-sale financial assets, shown on the balance sheet at fair value, with changes in fair value of securities held at the end of the accounting period reported each period in net income. e. choices a and b, only.
Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit$97Budgeted unit sales (all on credit): January 10,000February 12,000March 13,300April 15,200? Raw materials requirement per unit of output 4poundsRaw materials cost$1.00per poundDirect labor requirement per unit of output 2.5direct labor-hoursDirect labor wage rate$23.00per direct labor-hourPredetermined overhead rate (all variable)$9.00per direct labor-hourVariable selling and administrative expense$3.10per unit soldFixed selling and administrative expense$70,000per month?Credit sales are collected: 30% in the month of the sale 70% in the following month?Raw materials
purchases are paid: 30% in the month of purchase 70% in the following month?The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.?The estimated selling and administrative expense for February is closest to: A. $37,200 B. $70,000 C. $71,470 D. $107,200