The difference between the debit and credit side of an account is called the account ________.
Fill in the blank(s) with the appropriate word(s).
balance
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An operating segment is a reportable segment if it
A) satisfies the revenue, profit, and asset tests. B) satisfies the revenue, profit, or asset tests. C) operates predominately within a single industry. D) satisfies the net income test.
In Stage 2 of ABC allocation:
A) cost drivers are determined and costs are traced to each activity. B) activities are identified. C) predetermined overhead rates are calculated. D) equivalent units are computed.
Argyris and Schön (1978) identified two types of organizational level learning. The process of optimizing skills and acquiring knowledge to resolve an organizational problem is called ____________ learning.
a. Single loop b. Double loop c. Triple loop d. Problem loop
A company uses activity-based costing to determine the costs of its three products: A, B, and C. The budgeted cost and activity for each of the company's three activity cost pools are shown in the following table: Budgeted ActivityActivity Cost PoolBudgeted CostProduct AProduct BProduct CActivity 1$70,000 6,000 9,000 20,000 Activity 2$45,000 7,000 15,000 8,000 Activity 3$82,000 2,500 1,000 1,625 What are the activity rates for the three activities under activity-based costing?
A. (1) $3.50; (2) $3.00; (3) $16.00. B. (1) $2.00; (2) $1.50; (3) $16.00. C. (1) $2.00; (2) $3.00; (3) $3.50. D. (1) $3.50; (2) $1.50; (3) $32,80. E. (1) $2.00; (2) $1.50; (3) $32.80.