A partnership requires only an agreement between two or more persons to organize
a. True
b. False
Indicate whether the statement is true or false
True
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A corporation is defined as a legal entity that exists separate and distinct from its owners
Indicate whether the statement is true or false
________ are integrated systems including hardware, communications network, data base, model base, software base, and the ________ user (decision maker) that collect and interpret information for decision making
A) Marketing information systems (MIS); MIS B) Management information systems (MIS); MIS C) Decision support systems (DSS); DSS D) none of the above
Stampout Plastics produces different kinds of products, all in one manufacturing facility. They have identified four activities for their costing system:
Materials management—allocated by number of purchase orders
Chemical processing—allocated on metric tons
Molding—allocated on direct labor hours
Packaging—allocated by number of units produced
The activity rates are as follows:
Engineering design shows that the order will require direct materials that cost $540; direct labor cost will be $90. The order will also require four purchase orders to be placed, use two metric tons of chemical base, and need eight direct labor hours. The size of the order is to produce 3,000 units of product. Calculate the total production of the order.
Which of the following ratios does NOT measure liquidity?
a. Net cash flow to current liabilities b. Working capital to total assets c. Current ratio d. Quick ratio