Which of the following best describes the term used to assign indirect costs to a cost object?
A. Cost allocation
B. Cost tracing
C. Cost accumulation
D. Cost assignment
Answer: A
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A company's income statement showed the following: net income, $132,000; depreciation expense, $39,000; and gain on sale of plant assets, $13,000. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $11,200; merchandise inventory increased $27,000; prepaid expenses increased $8000; accounts payable increased $5200. Calculate the net cash provided or used by operating activities.
A. $181,400. B. $155,400. C. $160,200. D. $153,400. E. $139,400.
A large uninsured loss from a fire is treated on the income statement as an extraordinary item
Indicate whether the statement is true or false
Compare and contrast three truths about entrepreneurship and your own experience with entrepreneurs.
What will be an ideal response?
Global Logistics purchased a new machine on October 20th, 2014 for $1,000,000 on credit. The supplier has offered A&A terms of 2/10, net 45. The current interest rate the bank is offering is 16 percent
(a) Compute the cost of giving up cash discount. (b) Should the firm take or give up the cash discount? (c) What is the effective rate of interest if the firm decides to take the cash discount by borrowing money on a discount basis?