________ is a situation where a manager has the ability to make accurate decisions because the outcome of every alternative is known.
A. Certainty
B. Risk
C. Bureaucracy
D. Contingency
Answer: A
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Alex, Brad, and Carl are partners. The profit sharing rule between them is 4:3:2 in alphabetical order. The partnership incurs a net loss of $120,000. The journal entry to close Income Summary will include a ________. (Do not round any intermediate calculations.)
A) debit to Income Summary account for $120,000 B) debit to Alex, Capital account for $53,333 C) credit to Alex, Capital account for $53,333 D) credit to Carl, Capital account for $26,667
Which sentence expresses numbers correctly?
A) Logan restocked the shelves with 12 candy bars, 4 bags of chips, and 7 sodas. B) Logan restocked the shelves with 12 candy bars, four bags of chips, and seven sodas. C) Logan restocked the shelves with 12 candy bars, four bags of chips, and 7 sodas.
A contract for the sale of $400 worth of merchandise must be in writing
Indicate whether the statement is true or false
How many pounds of raw materials should be purchased in April?
Addams, Inc., is preparing its master budget for the second quarter. The following sales and production data have been forecasted:
Finished goods inventory on March 31: 120 units
Raw materials inventory on March 31: 450 pounds
Desired ending inventory each month:
Finished goods: 30% of next month's sales
Raw materials: 25% of next month's production needs
Number of pounds of raw material required per finished unit: 4 lbs.