If the predetermined overhead rate is based on the estimated level of activity for the current period, then products will be charged only for the capacity that they use and will not be charged for the capacity they don't use.
Answer the following statement true (T) or false (F)
False
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On a bank reconciliation, interest income would be added to the balance per bank
Indicate whether the statement is true or false
A company that finances a relatively large portion of its assets with liabilities is said to have a high degree of financial leverage.
Answer the following statement true (T) or false (F)
At December 31 . 2014, Ambrose Sales & Service has a $100,000, 120-day note payable outstanding. The company has followed the policy of replacing the note rather than repaying it over the last three years. The company's treasurer says that this policy is expected to continue indefinitely, and the arrangement is acceptable to the bank to which the note was issued. The proper classification of the
note on the December 31 . 2014, balance sheet is a. dependent on the intention of management. b. dependent on the actual ability to refinance. c. current liability, unless specific refinancing criteria are met. d. noncurrent liability.
Which of the following situations would not qualify for the fair use exception to U.S. copyright law?
A. A professor clips a newspaper article just before class and distributes copies of it to his class. B. A journalist quotes a paragraph from a book in a review of the book. C. A student copies a photograph of his favorite band from a website created by the band's record label and places it on the student's personal website. D. Google posts thumbnail images of books in the Google Book Search Project.