Advantages of outsourcing project work may likely include all of the following EXCEPT
A. Reduced costs.
B. Higher level of expertise.
C. Shortened project duration.
D. Increased flexibility.
E. Reduced conflict.
Answer: E
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A $6,000, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry torecognize this event is
a. debit Cash, $6,120; credit Notes Receivable, $6,120 b. debit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; credit Interest Receivable, $120 c. debit Notes Receivable, $6,060; credit Accounts Receivable, $6,060 d. debit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; credit Interest Revenue, $120
Gomez Company purchases a piece of equipment on Jan. 2, 2014, for $30,000. The equipment has an estimated life of eight years or 50,000 units of production and an estimated residual value of $3,000. Lester uses a calendar fiscal year. The entry to record the amount of depreciation for 2014, using the production method and assuming 8,000 units are produced, is
A) debit to Depreciation Expense, 4,000; credit to Cash, 4,000. B) debit to Cash, 4,160; credit to Accumulated Depreciation, 4,160. C) debit to Depreciation Expense, 4,320; credit to Accumulated Depreciation, 4,320. D) debit to Depreciation Expense, 4,800; credit to Accumulated Depreciation, 4,800.
Whether an agency relationship has been created is determined by using a subjective test
a. True b. False Indicate whether the statement is true or false
Are a product mix and a product line the same thing? Why or why not?
What will be an ideal response?