Which of the following accounting standards began a shift toward an asset-liability orientation in pension reporting?
a. APB Opinion 8
b. SFAS No. 87
c. SFAS No. 106
d. SFAS No. 132
ANSWER: B
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Floating-rate debt is advantageous to investors because the interest rate moves up if market rates rise. Since floating-rate debt shifts interest rate risk to companies, it offers no advantages to issuers.
Answer the following statement true (T) or false (F)
The manager of Center D designs, produces, and sells products to external parties. The manager makes both long-term and short-term decisions regarding resources. What type of responsibility center is Center D?
A) Cost center B) Profit center C) Revenue center D) Investment center
The inventory turnover ratio
a. measures management's ability to productively employ all of its resources. b. measures the efficient use of assets held for resale. c. is a stringent measure of liquidity. d. provides a measure of the strength of the sales mix the company currently employs.
What is their total inventory policy cost (excluding cost of goods) if they order at their EOKrewe amount?
The Krewe of Orpheus maintains a supply of swizzle sticks for events throughout the year. Demand for swizzle sticks is shockingly low, a quick check of krewe records from last year reveals that they used only 585,000, but the krewe president believes that they should be good stewards of what they have, so they seek to manage this inventory using the EOQ policy, although they prefer to refer to it as an EOKrewe policy for obvious reasons. Swizzle sticks are not expensive items, they cost a nickel apiece largely due to the club logo printed on each one. This also serves to increase the lead time as they can't be obtained from a standard restaurant supply house. Instead, they must be ordered with an eye towards the six day lead time. It costs $15 to place an order, most of this cost is a result of explaining the meaning of "Laissez les bons temps rouler" and why it should be printed on the edge of each swizzle stick. Holding cost is 20% of purchase price. A) $936.75 B) $468.37 C) $418.93 D) $209.46