Churn refers to the practice of hiring _____.
A. new employees while laying off others
B. only those workers who have more than five years of prior experience in a similar industry
C. only when the need arises rather than hiring on an ongoing basis
D. workers on a short-term contract basis
Answer: A
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Electrical costs at one of Rome Corporation's factories are listed below: Machine-Hours Electrical CostMarch458 $1,007April423 $934May440 $979June409 $902July426 $952August372 $822September414 $926October431 $949November468 $1,025 Management believes that electrical cost is a mixed cost that depends on machine-hours.Using the high-low method, the estimate of the variable component of electrical cost per machine-hour is closest to:
A. $2.21 B. $2.11 C. $1.80 D. $0.47
An increase in the safety factor results in an increase in the amount of inventory in a kanban system
Indicate whether the statement is true or false.
Paccu Corporation acquired 100 percent of Sallee Company's common stock on January 1, 20X7. Balance sheet data for the two companies immediately following the acquisition follow: PaccuSalleeCash$50,000 $30,000 Accounts Receivable 60,000 35,000 Inventory 130,000 45,000 Land 75,000 60,000 Buildings and Equipment 310,000 170,000 Less: Accumulated Depreciation (130,000) (30,000) Investment in Sallee Company Stock 250,000 Total Assets$745,000 $310,000 Accounts Payable$40,000 $35,000 Taxes Payable 30,000 12,000 Bonds Payable 250,000 50,000 Common Stock 75,000 75,000 Retained Earnings 350,000 138,000 Total Liabilities and Stockholders' Equity$745,000 $310,000 At the date of the
business combination, the book values of Sallee's assets and liabilities approximated fair value except for inventory, which had a fair value of $55,000, and land, which had a fair value of $65,000. The fair value of land for Paccu Corporation was estimated at $90,000 immediately prior to the acquisition.Based on the preceding information, at what amount should the land be reported in the consolidated balance sheet prepared immediately after the business combination? A. $155,000 B. $140,000 C. $150,000 D. $135,000
When does a joint tenancy become a tenancy in common?
A. when a joint tenant sells his or her property B. when a joint tenant dies C. when two joint tenants swap their share in the tenancy D. when two joint tenants are bound by a marital relationship