To assure an efficient system of internal control, management should authorize all transactions
Indicate whether the statement is true or false
False
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Moodrocker Company had 1,000 common shares issued and outstanding at January 1 . During the year, Moodrocker also had the common stock transactions listed below. April 1 Issued 300 previously unissued shares May 1 Split the stock 2-for-1 June 30 Purchased 100 shares for the treasury July 30 Distributed a 20 percent stock dividend December 31 Split the stock 3-for-1 Given this information, what is
the weighted-average number of shares that Moodrocker should use for earnings per share purposes? a. 2,880 b. 8,640 c. 8,820 d. 9,720
Unabsorbed fixed overhead costs in an absorption costing system are
a. fixed manufacturing costs not allocated to units produced. b. variable overhead costs not allocated to units produced. c. excess variable overhead costs. d. costs that cannot be controlled.
Use of social media need not be planned as it is not considered part of promotional efforts.
Answer the following statement true (T) or false (F)
Marilyn operates a store called The Gift Garden. Her store sells pottery, candles, crafts, and other knickknacks that make good gifts for family and friends. The Gift Garden is a _____.
A. traditional specialty store B. supermarket C. narrow category store D. department store E. convenience store