Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $126,500, allowance for doubtful accounts of $885 (credit) and sales of $1,035,000. If uncollectible accounts are estimated to be 5.00% of accounts receivable, what is the amount of the bad debts expense adjusting entry?
A. $5775
B. $7210
C. $5625
D. $5440
E. $6325
Answer: D
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In a production process, the total time consumed by all tasks is 45 min. The total time available is 60 min. Given this information, the balance efficiency of the production process is ______.
A. 75% B. 175% C. 25% D. 125%
Which of the following is a characteristic of an industrial union?
A. All the members represent a particular occupation in an industry. B. All the members share a specialized skill common across an industry. C. It restricts the number of its members in order to maintain high wages. D. The members change employers more frequently than do members of craft unions. E. Membership is a result of working for a particular employer in the industry.
If a company contains a number of investment centers of differing sizes, return on investment (ROI) should be used rather than residual income to rank the financial performance of the divisions.
Answer the following statement true (T) or false (F)
The managers at Fazer Technologies Inc. prepared a report on the profits earned and the losses incurred by the company over the last year and presented it to the stockholders of the company. In this scenario, Fazer Technologies Inc.'s report is an example of a(n) _____.
A. informal report B. vertical report C. external report D. lateral report