The introduction of a formal proposal sets the framework of ideas. What does the body of the proposal do?
The body uses precise, accurate, and up-to-date information to explain how the data prove that the solution will work. The body describes ways to carry out the project, tasks, time schedules, personnel, facilities, equipment, and costs.
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Inventory turnover is determined by dividing cost of goods sold for the period by the ending inventory
a. True b. False Indicate whether the statement is true or false
S-type corporations and limited liability companies are taxed like partnerships, but have the advantage of limited liability for their owners
Indicate whether the statement is true or false
Which of the following is a disadvantage of payback period approach?
A) It does not examine the size of the initial outlay. B) It does not use net profits as a measure of return. C) It does not explicitly consider the time value of money. D) It does not take into account an unconventional cash flow pattern.
Postage Corporation receives management consulting services from its 92 percent-owned subsidiary, Stamp Inc. During 20X7, Postage paid Stamp $125,432 for its services. For the year 20X8, Stamp billed Postage $140,000 for such services and collected all but $7,900 by year-end. Stamp's labor cost and other associated costs for the employees providing services to Postage totaled $86,000 in 20X7 and $121,000 in 20X8. Postage reported $2,567,000 of income from its own separate operations for 20X8, and Stamp reported net income of $695,000.Based on the preceding information, what amount of receivable/payable should be eliminated in the 20X8 consolidated financial statements?
A. $125,432 B. $140,000 C. $7,900 D. $5,560