Under which of the following methods must allocation take place as long as timing differences arise, despite the possibility of relevant circumstantial differences?
a. Comprehensive allocation
b. The net-of-tax method
c. Partial allocation
d. The new form of equities method
ANSWER: A
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The bank informs a customer that a service charge has been assessed on their account by including a credit memorandum in the monthly bank statement
a. True b. False Indicate whether the statement is true or false
Revised Article 3 provides that the impostor rule does not include an impostor who impersonates an agent of a principal and who induces someone to create a negotiable instrument payable to the principal
a. True b. False Indicate whether the statement is true or false
With a(n) ________ decision-making style, employees have a say in the decision-making process, but the ultimate authority still rests with the leader.
A. autocratic B. consultative C. directive D. delegative E. facilitative
During its first year of operations, Silverman Company paid $11,625 for direct materials and $11,000 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,000 while general, selling, and administrative expenses totaled $3500. The company produced 7250 units and sold 4500 units at a price of $7.00 a unit. What is the amount of gross margin for the first year?
A. $8875 B. $12,375 C. $ 31,500 D. $11,250