Net income results when expenses exceed revenues
Indicate whether the statement is true or false
False
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A company uses a process costing system. Its Welding Department completed and transferred out 100,000 units during the current period. The ending inventory in the Welding Department consists of 30,000 units (75% complete with respect to direct materials and 40% complete with respect to conversion costs). Determine the equivalent units of production for the Welding Department for direct materials and conversion costs assuming the weighted average method.
A. 107,500 materials; 118,000 conversion. B. 112,500 materials; 130,000 conversion. C. 122,500 materials; 112,000 conversion. D. 130,000 materials; 112,000 conversion. E. 130,000 materials; 130,000 conversion.
What type of organization would be affected by Executive Order 11246?
A. Federal contractors receiving more than $10,000 per year B. State contractors receiving more than $50,000 per year C. Private employers with 15 or more employees D. City government with 50 or more employees E. Nonprofit employers with 15 or more employees
Amortization is the process of adjusting the Bond Interest Expense account for any bond premium or bond discount
Indicate whether the statement is true or false
CERCLA is an Act that:
A) regulates current and future generation, transportation, and disposal of hazardous waste. B) granted to state governments the authority to take removal action in response to a release of hazardous substances. C) requires the federal government to establish a National Contingency Plan. D) All of these.