The Lagrangian function is differentiated with respect to each variable, and the resulting equations are solved simultaneously
Indicate whether this statement is true or false.
Answer: TRUE
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In the context of political behavior in organizations, _____ encourages political activity.
A. clear goals B. definitive lines of authority C. abundant resources D. autocratic decision making
After filling her car with gas, Shelly got a 5 percent discount for paying in cash.
Indicate whether the statement is true or false.
Answer the following statements true (T) or false (F)
1. Greene Electric Company uses the direct method to prepare its statement of cash flows. Greene has reported cost of goods sold of $85,000 on its income statement for 2018. If the balance in Accounts Payable, for merchandise inventory suppliers only, has decreased by $8,000 during the year, then $8,000 needs to be subtracted from $85,000 to calculate payments to suppliers for merchandise inventory purchases. 2. Lightning Electric Company uses the direct method to prepare its statement of cash flows. Lightning has reported operating expenses of $63,000 on its income statement for the year 2019. If the balance in accrued liabilities has increased by $6,000 during the year, then $6,000 needs to be added to $63,000 to calculate payments to suppliers for operating expenses. Accrued liabilities relate to operating expenses. 3. Using the direct method, interest expense paid on a note payable is included in the operating activities section of the statement of cash flows. 4. In practice, most companies face complex situations. In these cases, a spreadsheet can help in preparing the statement of cash flows. 5. The spreadsheet starts with the beginning statement of cash flows and concludes with the ending statement of cash flows. 6. Accountants can prepare the statement of cash flows directly from the lower part of the spreadsheet.
Which of the following is not a difference between job costing for service firms and job costing for manufacturing companies?
A. Service firms' costs are immediately expensed since all work is completed during a period. B. Service firms' finished jobs are charged to Cost of Services Billed instead of Cost of Goods Sold. C. Service firms' overhead accounts have slightly different titles (e.g., Applied Service Overhead). D. Service firms generally use fewer direct materials than manufacturing companies.