Days' sales in receivables is also called the collection period
Indicate whether the statement is true or false
TRUE
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Southern Manufacturing applies overhead to its products based on direct labor hours. During 2011 the company allocated overhead using a predetermined overhead rate of $5.25. At the end of 2011 it was determined that overhead was underapplied by $10,000. Which of the following could not be a possible reason for overhead being underapplied?
A) Estimated overhead costs differed from actual overhead costs. B) Estimated direct labor hours differed from actual direct labor hours. C) The cost driver does not have enough correlation with overhead costs. D) Applied overhead was higher than actual overhead.
In the context of small businesses and the economy of a country,entrepreneurship rates are significantly lower in countrieswhere it is hard to get fired.
Answer the following statement true (T) or false (F)
Based on his credit card usage, which of the following aspects of a credit card should be most important to Jerome?
Jerome has three major credit cards and makes payments on them each month. He has had one of them for six years, another for three years, and the last for eleven months. Making just the minimum payment has become automatic at this point, and Jerome barely even looks at the statements. Jerome is beginning to think that his approach to credit may be faulty, and he wants to find out how to adjust it. He just applied for two additional credit cards. A) The APR on the unpaid balance B) A low annual fee C) Perks and benefits, like frequent flier miles D) None of the above are important to Jerome.
A subprime mortgage is a mortgage with an APR below the prime rate
Indicate whether this statement is true or false.