Process capability analysis is a technique used to determine whether ______.
a. a process is able to meet a set of design specification limits
b. a process falls within a set of control limits
c. a process is compliant with government regulations
d. a process is compliant with ISO requirements
a. a process is able to meet a set of design specification limits
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A building with an appraisal value of $167,000 is made available at an offer price of $162,000 . The purchaser acquires the property for $25,000 in cash, a 90-day note payable for $75,000, and a mortgage amounting to $65,000 . The cost basis recorded in the buyer's accounting records to recognize this purchase is
a. $167,000 b. $162,000 c. $165,000 d. $140,000
Because service firms do not inventory their output, a chase strategy is not appropriate
Indicate whether the statement is true or false
Identification takes place when specific goods are designated as the subject mater of a sales or lease contract
Indicate whether the statement is true or false
McClintock Co. had the following transactions involving plant assets during Year 1. Unless otherwise indicated, all transactions were for cash.Jan. 2Purchased a truck for $70,000 plus sales taxes of $3,000. The truck is expected to have a $14,000 salvage value and a 4 year life.Jan. 3Paid $2,500 to have the company's logo painted on the truck. This did not change the truck's salvage value.Dec. 31Recorded straight-line depreciation on the truck.Prepare the general journal entries to record these transactions.
What will be an ideal response?