As a data input device, the console terminal is distinctly advantageous because it allows the computer operator to communicate directly with the computer
Indicate whether the statement is true or false.
T
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When making a retrospective adjustment, all of the following steps are included except
A) computing the cumulative effect of the new accounting principle as of the beginning of the first period presented. B) adjusting the current period net income for the cumulative effect of the change. C) adjusting the carrying value of impacted assets and liabilities. D) disclose the nature and reason for the change in accounting principle, including the new principle is preferable.
In an activity-based costing (ABC) system, cost reduction is accomplished by identifying and eliminating: (CPA adapted) All Cost DriversNon value-added ActivitiesA.NoNoB.YesYesC.NoYesD.YesNo
A. Option A. B. Option B. C. Option C. D. Option D.
Indicate whether each of the following statements is true or false.In making a decision to eliminate a segment of a business, managers should compare differential revenues for the segment to its avoidable costs._____Eliminating one segment of a business generally has no effect on the other segments._____Eliminating one segment of a business has no effect on the customers of the other segments._____The opportunity cost, alternative use for facilities, should be considered in deciding whether to retain a segment of a business._____A decision to eliminate a segment of a business is likely to have long-term consequences because re-establishing the segment might be difficult._____
What will be an ideal response?
Lawrence sells lockers like those found in airports, bus stations, exercise centers, and schools. His fixed selling costs are $65,000 annually. His annual sales are $390,000 and the annual cost of the lockers he sells equals $255,000. Calculate his gross profit in percentage and his break-even point.
What will be an ideal response?