Which of the following does not support the principle of indemnity?
A) Actual cash value
B) Contract of adhesion
C) Insurable interest
D) Subrogation
B
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Mira Financial Advisors provides accounting and finance assistance to customers in the retail business. Mira has four professionals on staff, plus an office with six clerical staff. Total compensation, including benefits, for the professional staff runs about $756,000 per year, and it normally has about 8000 billable hours per year. The professional staff keep detailed time sheets organized by client number. The total office and administrative costs for the year are $576,000. Mira allocates office and administrative costs to clients monthly, using a predetermined overhead allocation rate based on billable hours. During July, Mira's professionals spent 38 hours on their client, Riley Sales. Mira adds a 25% markup on its costs to calculate the amount billed to the customer. How much should t
A) $3591 B) $180,000 C) $7909 D) $6327
Uncollectable accounts receivable can be written off by small businesses to decrease business income tax liability.
Answer the following statement true (T) or false (F)
Cost accounting systems are used ________
A) to accumulate product cost information B) to accumulate and assign period costs to products C) by manufacturing companies, not service companies D) by stockholders for decision-making purposes
Recent research indicates that people management benefits might be hard to come by in teams performing more interdependent tasks over a long period of time.
Answer the following statement true (T) or false (F)