A contract for the sale of goods with a price of $500 or more requires written proof to be enforceable

Indicate whether the statement is true or false


True

Business

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When no-par common stock with a stated value is issued for cash, the common stock account is credited for an amount equal to the cash proceeds

a. True b. False Indicate whether the statement is true or false

Business

Which of the following is a function that the Consumer Product Safety Commission is empowered to execute?

A) collecting data regarding injuries caused by consumer products B) regulating the distribution of genetically modified food products C) recalling drugs that have been found to be harmful from the market D) accepting petitions from consumers on wrongly labeled food products

Business

At the beginning of the month, the Painting Department of Skye Manufacturing had 20,000 units in inventory, 70% complete as to materials, and 20% complete as to conversion. During the month the department started 115,000 units and transferred 120,000 units to the next manufacturing department. At the end of the month, the department had 15,000 units in inventory, 40% complete as to materials and 10% complete as to conversion. If Skye Manufacturing uses the weighted average method of process costing, compute the equivalent units for materials and conversion respectively for the Painting Department.

A. 126,000 materials; 117,500 conversion. B. 112,000 materials; 117,500 conversion. C. 112,000 materials; 121,500 conversion. D. 126,000 materials; 121,500 conversion. E. 121,500 materials; 126,000 conversion.

Business

An investment promises a payoff of $195 two and one-half years from today. At a discount rate of 7.5% per year, what is the present value of this investment?

A) $162.03 B) $162.75 C) $169.47 D) There is not enough information to answer this question.

Business