The cash and investment pool of Lake City allocates dividends, interest, and capital gains and losses on a periodic basis. When the cash and investment pool accrues interest earned on investments in debt securities, pending allocation to participating funds, it would credit which of the following accounts?
A. Revenues.
B. Interfund Receivables.
C. Undistributed Earnings on Pooled Investments.
D. Interfund Loans.
Answer: C
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Golden Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor
Golden uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: Direct materials: 2 pounds per unit; $3 per pound Labor: 4 hours per unit; $20 per hour During the first quarter, Golden produced 5,000 units of this product. At the end of the quarter, an examination of the direct materials records showed that the company used 9,500 pounds of direct materials and the direct materials cost variance was $3,750 U. Which of the following is a logical explanation for this variance? A) The company used more labor hours than allowed by the standards. B) The company paid a higher cost per hour for labor than allowed by the standards. C) The company used a greater quantity of direct materials than allowed by the standards. D) The company paid a higher cost for the direct materials than allowed by the standards.
Operating leases help to shift the risk of obsolescence from the user to the lessor.
Answer the following statement true (T) or false (F)
At a meeting of employees, Fuel Injection Design & Manufacturing, Inc's managers announce the creation of a new company-wide code of ethical conduct and the initiation of an ad campaign to publicize the new code. They also say that any employees who do not adhere to the code will be discharged. The effectiveness of this code will be determined by? A)?the commitment of company leadership to
enforcing the code. B)the extent to which the employees comply with the code.? C)a marketing campaign posted online to tout the firm's ethical tone.? D)?management directing employees to "do as we say, not as we do."
"To A for the life of B" creates a life estate in B
Indicate whether the statement is true or false