The main purpose of using a payable-through draft system is to gain effective control over field
payments.
Indicate whether the statement is true or false
TRUE
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Assume that SQ = Standard Quantity, SP = Standard Price, AQ = Actual Quantity, and AP = Actual Price. The correct entry along with the equation to record the issuance and usage of materials, assuming a favorable materials usage variance, is as follows
A) Work in Process SQ x SPMaterials Usage Variance (AQ-SQ)SPMaterials AQ x SP B) Work in Process SQ x SPMaterials Usage Variance (AQ-SQ)SPMaterials AQ x SP C) Work in Process AQ x APMaterials Usage Variance (AQ-SQ)SPMaterials AQ x SP D) Work in Process AQ x APMaterials Usage Variance (AQ-SQ)SPMaterials AQ x SP E) None of these.
Which of the following is true concerning the maximum amount of damages recoverable for
malicious violations of the Civil Rights Act of 1964? A) The sum of compensatory and punitive damages is capped at $300,000 for employers with more than 500 employees. B) The sum of compensatory and punitive damages is capped at $50,000 for employers with 100 or fewer employees. C) The sum of compensatory and punitive damages is capped at $200,000 for employers with 201 to 500 employees. D) The sum of compensatory and punitive damages is capped at $100,000 for employers with 101 to 200 employees. E) All of the above.
To be a close corporation, the business must be small, with no more than 20 owners and no more than $500,000 in gross annual income
a. True b. False Indicate whether the statement is true or false
Pearland, Inc has 9,000 shares of preferred stock outstanding
The preferred stock has a $90 par value, a 14% dividend rate, and is noncumulative. If Pearland has sufficient funds to pay dividends, what is the total amount of dividends that will be paid out to preferred stockholders? A) $32,143 B) $113,400 C) $57,857 D) $8,100