How much were Durand's period costs?
The following information was obtained from Durand, Inc.:
A) $462,540
B) $506,010
C) $13,710
D) $503,900
B) $506,010
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Using avatars for training purposes is an example of
A. a simulation. B. an orientation. C. adventure learning. D. benchmarking. E. action learning.
What is the correct sequence for closing the temporary accounts?
a. revenues, expenses, Income Summary, Drawing; b. expenses, revenues, Income Summary, Drawing; c. revenues, expenses, Drawing, Income Summary; d. Drawing, revenues, expenses, Income Summary; e. net income, Drawing, Income Summary
Jack knows that his company is unable to provide employees with a holiday bonus. As the company gives a holiday bonus every year, he is certain his employees will be disappointed. Several weeks before he needs to tell employees about the bonus, he starts a rumor that the company is considering layoffs. Thus, when the employees hear that there is not a bonus, they are relieved, as this is better than layoffs. Which commonly used heuristic is Jack utilizing?
A. availability B. projection C. representativeness D. anchoring and adjustment
During May, Photo Mart sold 150 instant cameras for $100 each. Each camera had cost Photo Mart $69 to purchase and carried a one-year warranty. If 4 percent typically need to be replaced over the warranty period and two actually are replaced during May, the entry to record the Product Warranty Expense for the month is:
a. Product Warranty Expense 138 Estimated Product Warranty Liability 138 b. Product Warranty Expense 276 Cash 276 c. Product Warranty Expense 552 Cash 552 d. Product Warranty Expense 414 Estimated Product Warranty Liability 414