You read an article in the paper that stated the Federal Reserve Bank sold $500 million of
government securities on Tuesday of last week. When the Fed did this they were controlling the
money supply by using which of the following tools?
A) reserve requirements ratio
B) discount rate
C) risk
D) open market operations
E) unable to tell with the information provided
D
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In regards to the accounts payable department, which statement is NOT true?
a. The purchase requisition shows that the transaction was authorized. b. The purchase order proves that the purchase was required. c. The receiving report provides evidence of the physical receipt of the goods. d. The supplier's invoice indicates the financial value of the transaction.
Alberta Corporation uses a job-order costing system. The following data relate to the just completed month's operations.(1) Direct materials requisitioned for use in production, $170,000(2) Indirect materials requisitioned for use in production, $11,000(3) Direct labor wages incurred, $105,000(4) Indirect labor wages incurred, $103,000(5) Depreciation recorded on factory equipment, $38,000(6) Additional manufacturing overhead costs incurred, $63,000(7) Manufacturing overhead costs applied to jobs, $200,000(8) Cost of jobs completed and transferred from Work in Process to Finished Goods, $450,000Required:a. Where appropriate, post the above transactions to the Work in Process and Manufacturing Overhead T-accounts below.?Work In Process?Bal.$35,000????????Manufacturing
Overhead???????????????b. Determine the underapplied or overapplied overhead for the month. What will be an ideal response?
An internal issue to be considered when setting a price is
A) whether there is a sole source or heavy competition. B) total demand for the product or service. C) the quality of material and labor. D) the number of competing products or services.
In the United States, sales contracts and contracts for the payment of money are not assignable
Indicate whether the statement is true or false