_________________________ occurs when a specific file is reproduced for each user who needs access to the file
Fill in the blank(s) with correct word
data redundancy
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The National Environmental Policy Act (NEPA) sets out a ________ for making decisions.
Fill in the blank(s) with the appropriate word(s).
Information on Shonda Company's factory overhead costs follows: Actual variable factory overhead $95,000 Actual fixed factory overhead $28,000 Standard hours allowed for actual production 30,000 Standard variable overhead rate per direct labor hour $3.25 Standard fixed overhead rate per direct labor hour $1.00 What is the net factory overhead variance?
a. $4,500 unfavorable b. $4,500 favorable c. $2,500 unfavorable d. $2,500 favorable
Chiclet Company decides at the beginning of 2014 to adopt the FIFO method of inventory valuation. The company had been using the LIFO method for financial and tax reporting since it inception on January 1 . 2012 . The profit-sharing agreement was in place for all years prior to the year of change, 2014 . Payments under this agreement are not an inventoriable cost. Which of the following
statements regarding the accounting for the profit-sharing agreement in connection with the change from LIFO to FIFO is correct? a. The effects of the change in accounting principle on the profit-sharing agreement must be treated retrospectively. b. The effects of the change in accounting principle on the profit-sharing agreement should be reported only in the period in which the change in accounting principle was made. c. It would be impracticable to determine the effect on the profit-sharing agreement as a result of the change in accounting principle. d. There would be no effect on the profit-sharing agreement as a result of the change in accounting principle.
Using the estimate based on sales method of accounting for uncollectible accounts, the entry to reinstate a specific receivable previously written off would include a
A) credit to Bad Debt Expense B) credit to Accounts Receivable C) debit to Allowance for Doubtful Accounts D) debit to Accounts Receivable