One futures contract is traded where both the long and short parties are closing out existing positions. What is the resultant change in the open interest?
A. No change
B. Decrease by one
C. Decrease by two
D. Increase by one
B
The open interest goes down by one. There is one less long position and one less short position.
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Describe TCP/IP along with its primary purpose.
What will be an ideal response?
You have just heard an advertisement promoting pork as the “other white meat.” What type of advertising is being used?
a. institutional advertising b. selective advertising c. cost-based advertising d. primary-demand advertising e. comparative advertising
KPMG issued an audit opinion stating that Wells Fargo’s internal controls over financial reporting were operating effectively as of December 31, 2014. Had KPMG known about the alleged sales practices before they issued their audit opinion on internal control over financial reporting for the 2014 fiscal period, how might that knowledge impact their audit opinion?
What will be an ideal response?
Kisler Incorporated makes a single product-a cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted manufacturing overhead$70,035 Budgeted production (a) 15,000unitsStandard hours per unit (b) 0.70machine-hoursBudgeted hours (a) × (b) 10,500machine-hours Actual production (a) 14,000unitsStandard hours per unit (b) 0.70machine-hoursStandard hours allowed for the actual production (a) × (b) 9,800machine-hoursTotal actual manufacturing overhead$97,489 The total manufacturing overhead is underapplied or overapplied by how much? (Round your
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