Violation of a restriction in a fee simple subject to a condition subsequent results in an automatic loss of interest
Indicate whether the statement is true or false
False
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Legally sufficient consideration is something of value in the eyes of the law
Indicate whether the statement is true or false
Assume that Toy Craft makes ragdolls. Each ragdoll requires 12 square feet of fabric. If the number of dolls to be produced during the quarter is 19,000, the desired ending inventory of fabric is 11,400 square feet, the beginning inventory of fabric is 22,800 square feet, and the cost of the fabric is $9 per square foot, what is the total cost of fabric purchases?
A. $2,052,000 B. $1,949,400 C. $216,600 D. $307,800 E. $2,154,600
Errors in the sales forecast can be offset by similar errors in costs and income forecasts. Thus, as long as the errors are not large, sales forecast accuracy is not critical to the firm.
Answer the following statement true (T) or false (F)
Shane Corporation has provided the following data concerning last month's operations. Direct materials$23,000Direct labor$58,000Manufacturing overhead applied to Work in Process$92,000 BeginningEndingWork in process inventory$56,000 $69,000 Finished goods inventory$33,000 $36,000 How much is the unadjusted cost of goods sold on the Schedule of Cost of Goods Sold?
A. $161,000 B. $160,000 C. $157,000 D. $193,000