How are a business mission and business vision different?
What will be an ideal response?
A business mission identifies the current purpose and distinguishing traits of a business, while a business vision describes an idealized version of the future state of the business if the strategic plan is successfully implemented.
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The unemployment tax is calculated by multiplying the required percentage times the entire gross earnings of all employees
Indicate whether the statement is true or false
Firms account for leases using either the operating lease method or the capital (finance) lease method. Which of the following is not true?
a. The capital, or finance, lease method treats leases equivalent to installment purchases or sales, where the lessee borrows funds from the lessor to purchase the asset and the lessor recognizes profit at the time of sale. b. The lessor records the leased asset and the lease liability on the balance sheet at the present value of the contractual cash flows at the time of signing the lease. c. The lessee amortizes the leased asset, similar to recognizing depreciation on buildings and equipment. d. The lessee recognizes interest expense on the lease liability, similar to recognizing interest expense on long-term notes or bonds. e. The lessor records the signing of a capital lease the same as if the lessor sold the leased asset for an installment note receivable.
Wayne and Garth are engaged in XP and are constantly streamlining the design and improving the code. In XP terminology, they are engaged in:
A) Scrumming. B) Refactoring. C) Sprinting. D) Time boxing.
Arabica Manufacturing uses a predetermined overhead allocation rate based on the number of machine hours
At the beginning of the year, it estimated total manufacturing overhead costs to be $1,050,000, total number of direct labor hours to be 4,000, and total number of machine hours to be 20,000 hours. What was the predetermined overhead allocation rate? (Round your answer to the nearest cent.) A) $262.50 per machine hour B) $43.75 per direct labor hour C) $52.50 per machine hour D) $65.63 per direct labor hour