Band Instruments, Inc, sells seventy-six trombones to Community & School Band Source, Inc To avoid liability for most implied warranties, Band Instruments should state in writing that the trombones are sold
a. as is.
b. by a merchant.
c. in perfect condition.
d. with no known defects.
A
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Under process costing, the costs incurred by each department are reported in ________. The perpetual inventory system is used.
A) a job cost sheet B) the Finished Goods Inventory account C) the Cost of Goods Sold account D) a production cost report
Which of the following best describes Kenneth's role in his team?
Scenario: Kenneth and Anjali are members of a team at Treehouse Enterprises. Kenneth tries to keep the team moving toward accomplishing its goals, and he possesses the knowledge and skills required for carrying his team's assignments into effect. Deidre is very supportive of the team members and in the past has comforted team members whose feelings have been hurt. Kenneth, Anjali, and the other team members believe that all new information any of them receives should be shared among team members because it will improve team performance. A) team maintenance B) task specialist C) corporate entrepreneur D) boundary spanner E) negotiator
When an auditor increases the planned assessed level of control risk because certain control activities were determined to be ineffective, the auditor would most likely increase the
A. Extent of tests of details. B. Level of inherent risk. C. Extent of tests of controls. D. Level of detection risk.
How much gross income does Ron have from the following items of economic income? • Received cash gift of $5,000 from parents. • Received $12,000 in alimony payments and $6,000 in child support from former spouse. • Won $4,000 in Indiana lottery scratch off game. • Investment in IBM stock increased in value by $15,000. • Collected $12,000 in unemployment benefits
a. $16,000 b. $28,000 c. $33,000 d. $34,000 e. $54,000