Dragonaire Corporation contracts with Excel Trucking Company to take goods to Fly-By Airlines, Inc., with Fly-By to transport the goods to a Geo Storage Company warehouse. Excel, Fly-By, and Geo each acknowledge possession of the goods by a document of title. Excel, Fly-By, and Geo are
A. bailees.
B. consignees.
C. lessees.
D. sellers.
Answer: A
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For performance evaluation purposes, variable service department costs should be charged to operating departments in predetermined, lump-sum amounts.
Answer the following statement true (T) or false (F)
The Willa estate reports $100,000 DNI composed of $50,000 dividends, $20,000 taxable interest, $10,000 passive income, and $20,000 tax-exempt interest. Willa’s two noncharitable income beneficiaries, Shanna and Tom, receive distributions of $75,000 each. How much of each class of income is deemed to have been distributed to Shanna? To Tom? Use the following template to structure your answer. ? ? Beneficiary Amount Received DNI, Income Type Corpus, Nontaxable Dividends Taxable Interest Passive Exempt Interest Shanna ? ? ? ? ? ? Tom ? ? ? ? ? ? Totals in DNI ? ? ? ? ? ?
What will be an ideal response?
What losses should not affect the recorded cost of inventories?
a. Normal losses b. Abnormal losses c. Seasonal losses d. Standard losses
The prospect tells the realtor, "I like the ranch-style house a lot, but I can get more space in the one the other real estate agent showed me and the price is $2,000 less." The salesperson replies, "Yes, but this house is about ten years newer, has more modern appliances, and is better insulated." What method is being used to handle this objection?
A. Boomerang B. Forestalling C. Direct denial D. Indirect denial E. Anticipation