Favorable variances are contra expenses and therefore decrease Cost of Goods Sold
Indicate whether the statement is true or false
TRUE
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Use this information pertaining to the Alvino Corporation to answer the following question. 1 . The corporation's Store Supplies account showed a beginning debit balance of $200 and supplies purchased of $800 . There were $300 of supplies on hand at year end. 2 . Depreciation on a building is estimated to be $5,000. 3 . A one-year insurance policy was purchased for $2,000 . Three months have
passed since the purchase. 4 . Accrued interest on a note receivable amounted to $100. 5 . The company received a $3,600 advance payment during the year on services to be performed. By the end of the year, one-fourth of the services had been performed. The adjusting entry for the insurance policy is a. Prepaid Insurance 500 Insurance Expense 500 b. Insurance Expense 1,500 Prepaid Insurance 1,500 c. Prepaid Insurance 1,500 Insurance Expense 1,500 d. Insurance Expense 500 Prepaid Insurance 500
Explain the concept of business process design.
What will be an ideal response?
Your boss has told you that he suspects that his wife (whose desk is next to yours) is cheating on him, and having an affair with another man. Because your desk is next to hers, he has asked you to check her computer for evidence of this when she steps away from her desk, which she frequently must do. In the past, she has asked you to watch for urgent emails from customers and others while she
was gone, and to page her, which you have done. So even if she came back unexpectedly and found you at her computer, it would probably not arouse her suspicion. Although you are reluctant to do this, he is your boss, and could make things difficult for you. What should you do? a. Do it even though you're reluctant to do so. You have nothing to lose and everything to gain. If it turns out she is having an affair, he needs to know, and if there's no evidence of it, he will be relieved – and grateful. b. Don't do it, even though your boss will may not understand. Tell him that if the situation were reversed, that is, if she was asking you to spy on him, you wouldn't do that, either. Tell him that this is a private matter, between him and her. Hope that he understands.
WhenCongress agreed to raise the debt ceilingduring the economic meltdown in the United States in 2011,it temporarily averted a shutdown crisis, but the deal they reached to do so created the _____.
A. risk-return relationship B. fiscal cliff C. bottom-up budgeting D. niche barrier