Direct materials are the only materials in a product
Indicate whether the statement is true or false
F
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Which one of the following is an example of an accrued liability?
a. Wages have been earned by employees, but have not been paid at the end of the period. b. Equipment that will benefit several periods has been purchased. c. An insurance policy that expires in a future period has been acquired. d. Supplies are purchased and used over several months.
Name three Sarbanes-Oxley Act requirements and duties of the members of the audit committee of a public company.
What will be an ideal response?
In your neighborhood there is a small men's store that has a limited selection of clothing, but the selection that is carried is of very high quality and price
Services include free alterations and tailoring, personalized record keeping, and free dry cleaning. The inside of the store has deep leather chairs and couches and thick pile carpet. Upon entering the store, a customer feels "special and rich." In terms of differentiation, what is this retailer trying to communicate by its decorations and service level? A) differentiation based on services mix and atmosphere B) differentiation based on prepurchase services C) differentiation based on postpurchase services and atmosphere D) differentiation based on ancillary services and atmosphere E) differentiation based on prepurchase and postpurchase services
The entry to close the Insurance Expense account at the end of the accounting period is to:
A) debit Retained Earnings and credit Prepaid Insurance B) debit Prepaid Insurance and credit Retained Earnings C) debit Insurance Expense and credit Retained Earnings D) debit Retained Earnings and credit Insurance Expense