Which of the following best describes parallel processing?
A) A large number of similar products pass through an identical set of processes.
B) Units typically pass through a series of manufacturing or producing departments.
C) Partially completed units can be worked on simultaneously in different processes and then brought together in a final process for completion.
D) Units must pass through one process before they can be worked on in later processes.
C
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Exhibit 22-3 Katrina Company acquired a truck on January 1, 2016, for $140,000. The truck had an estimated useful life of five years with no salvage value. Katrina used straight-line depreciation for the truck. On January 1, 2017, Katrina revises the estimated useful life of the truck. Katrina made the accounting change in 2017 to reflect the extended useful life. ? Refer to Exhibit 22-3. If
the revised estimated useful life of the truck is a total of seven years, and assuming an income tax rate of 35%, what is the amount of the prior-years effect that Katrina should report in its 2017 income statement as a result of changing the useful life of the truck? A) $0 B) $5,600 C) $16,800 D) $58,800
________ are a form of sales promotion to channel members.
A. Loyalty programs B. Multiple-purchase offers C. Product samples D. Product placements E. Trade shows
Mike's organization manages the logistics for a petroleum company. Last month, one of its tankers spilled about one hundred tons of oil in the ocean while transporting it
Mike meets with a lawyer to understand his organization's liability in the accident, and he is relieved to hear that all the damages have to be paid by the petroleum company. Which of the following statements best describes the conclusion in this scenario? A) Mike's firm is liable for the damages and must pay the company. B) Mike's firm is partially responsible for the damages. C) Mike's firm is not responsible for the damages. D) Mike's firm is solely responsible for the damages.
A periodic share repurchase plan allows investors to buy more shares by reinvesting dividends they receive on a company's stock
Indicate whether the statement is true or false.