The Children's Online Privacy Protection Act prohibits Internet operators from collecting information from children under what age without parental permission?
A)18
B)16
C)13
D)10
C
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The stockholders' equity in a corporation consists of capital contributed by stockholders and retained earnings
Indicate whether the statement is true or false
On December 31, Carmack Company received a $215 utility bill for December that it will not pay until January 15. The adjusting entry needed on December 31 to accrue this expense is:
A. Debit Utilities Expense $215; credit Prepaid Utilities $215. B. Debit Utilities Expense $215; credit Accounts Payable $215. C. Debit Prepaid Utilities $215; credit Cash $215. D. Debit Prepaid Utilities $215; credit Accounts Payable $215. E. Debit Accounts Payable $215; credit Utilities Expense $215.
Good writers should avoid repetition of words or key ideas because it shows lack of creativity
Indicate whether the statement is true or false
Kern Corporation produces a single product. Selected information concerning the operations of the company follow: Units in beginning inventory0Units produced10,000Units sold9,000 Direct materials$40,000Direct labor$20,000Variable manufacturing overhead$12,000Fixed manufacturing overhead$25,000Variable selling and administrative expenses$4,500Fixed selling and administrative expenses$30,000Assume that direct labor is a variable cost.Which costing method, absorption or variable costing, would show a higher operating income for the year and by what amount? (Round your intermediate calculations to 2 decimal places.)
A. Absorption costing net operating income would be higher than variable costing net operating income by $5,500. B. Absorption costing net operating income would be higher than variable costing net operating income by $2,500. C. Variable costing net operating income would be higher than absorption costing net operating income by $2,500. D. Variable costing net operating income would be higher than absorption costing net operating income by $5,500.