Assuming that the number of units produced is less than the number of units sold, which of the following statements is true when comparing net operating income using absorption and variable costing?
A) Absorption costing will yield a higher net operating income.
B) Variable costing will yield a higher net operating income.
C) Net operating income will be the same under both methods.
D) The sales price per unit will be less using absorption costing.
B
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Which of the following is not a major change to bankruptcy law in the Bankruptcy Abuse Prevention and Consumer Protection Act?
A. Means test. B. Lowering the priority of alimony payments. C. Proof of income. D. Credit counseling.
A subsidiary ledger is
A) a journal used by a company to record its transactions with a similar characteristic. B) a group of accounts, all of which relate to one specific company activity. C) the entire group of accounts for a company. D) a record of all the daily activities.
Which of the following statements is true in the context of part-time employee benefits and status?
A. Part-time employees are more likely to receive life insurance benefits than paid holidays. B. Part-time employees are more likely to receive retirement benefits than health care benefits. C. Part-time employees are less likely to receive short-term disability benefits than long-term disability benefits. D. Part-time employees are less likely to receive paid disability leave benefits than health care benefits.
What was the key lesson behind Chapter 12's "A Question of Ethics: Schocking the Downton Abbey Congressman?"
A) Representatives should not travel to Great Britain when Congress is in session. B) Public relations staffers can salvage a negative media interview. C) New office décor can be used as a public relations tool. D) Journalists can expose the excesses of government officials.