In the beginning, some entrepreneurs use ____________ as a source of financing.
A. asset-based lenders.
B. personal credit cards
C. wealthy individuals.
D. venture capitalists.
Answer: B
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The three forms or states in the development of inventory for a manufacturer are direct materials, direct labor, and finished goods
a. True b. False Indicate whether the statement is true or false
The relationship between a company's variable costs and fixed costs is referred to as its ______________________________
Fill in the blank(s) with correct word
Merchandise is sold for cash. The selling price of the merchandise is $3,000 and the sale is subject to a 7% state sales tax. The journal entry to record the sale would include
A) A debit to Cash for $3,000. B) A credit to Sales for $3,210. C) A credit to Sales Tax Payable for $210. D) None of the above.
Nighthawk Inc is considering disposing of a machine with a book value of $22,500 and an estimated remaining life of three years. The old machine can be sold for $6,250. A new machine with a purchase price of $68,750 is being considered as a replacement. It will have a useful life of three years and no residual value. It is estimated that variable manufacturing costs will be reduced from $43,750
to $20,000 if the new machine is purchased. The net differential increase or decrease in cost for the entire three years for the new equipment is: A) $8,750 increase B) $31,250 decrease C) $8,750 decrease D) $2,925 decrease