In response to calls for greater pay flexibility:
A. Unions have agreed to more flexible pay systems like merit, bonuses, and skill-based pay.
B. The government has passed laws aimed at protecting and employers right to design pay plans without union interference.
C. Unions have refused to budge from a seniority based pay system.
D. Management has worked to stifle creativity in pay design.
Answer: A
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Answer the following statements true (T) or false (F)
1. Accounting firms, building contractors, and healthcare providers use process costing. 2. A job order costing system is used by companies that manufacture batches of unique products or provide specialized services. 3. A process costing system is used when a company produces identical units through a series of production steps. 4. A job order costing system would be appropriate for a manufacturing company that manufactures identical units through a series of uniform production steps. 5. A cost accounting system will assist a manager in determining how many and which products to produce.
Using the information given below, prepare an income statement and statement of retained earnings for Rapid Car Services from the adjusted trial balance. Rapid Car ServicesAdjusted Trial BalanceFor the year ended December 31Cash …………………………………………….$33,000?Accounts receivable …………………………….14,200?Office supplies ………………………………….1,700?Vehicles ………………………………………..100,000?Accumulated depreciation - Vehicles …………?45,000Accounts payable ………………………………?11,500Common stock …………………………..?20,000Retained earnings …………………………..?51,900Dividends …………………...40,000?Fees earned
……………………………………..?155,000Rent expense …………………………………...13,000?Office supplies expense ………………………...2,000?Utilities expense ………………………………..2,500?Depreciation Expense - Vehicles……………..15,000?Salary expense ………………………………….50,000?Fuel expense ……………………………………Totals…………………………………… 12,000 $283,400________$283,400 What will be an ideal response?
The section of the patent application which provides the criteria by which any infringement will be determined is the:
A. background and advantages section. B. description of the invention. C. executive summary. D. claims section.
If a retailer needed help with store design and training sales personnel, it would most likely use the services of a
A. full-service wholesaler. B. full-price wholesaler. C. rack jobber. D. cash-and-carry wholesaler. E. technical wholesaler.