If the legal remedies for breach of contract are not adequate to fully remedy a party's injuries, a court has the discretionary right to grant an equitable remedy.
Answer the following statement true (T) or false (F)
True
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Which internal control procedure is followed when management authorizes the purchasing department to order goods and services for the company?
a. Segregation of duties b. Safeguarding of assets and records c. Independent verifications d. Proper authorizations
The closing stock price of MNM Corporation for the last 7 trading days is shown below. Day Stock Price 1 24 2 27 3 24 4 28 5 25 6 30 7 31 ? The mode is
A. 24. B. 25. C. 26. D. 27.
The marketing technique known as ________ involves merchants offering many products for which there is little demand.
A. long tail marketing B. flash marketing C. yield management D. bait-and-switch
The Chuba Corporation uses a standard cost system in which manufacturing overhead is applied on the basis of standard direct labor-hours (DLHs). During December, the company actually used 7,200 direct labor-hours and made 1,900 units of finished product. The standard cost card for one unit of product includes the following data concerning manufacturing overhead:Variable overhead: 4 DLHs @ $5.25 per DLHFixed overhead: 4 DLHs @ $2.00 per DLHFor December, the company incurred $16,550 in fixed manufacturing overhead costs and recorded an $800 unfavorable volume variance.The denominator activity level in direct labor-hours used by Chuba in setting the predetermined overhead rate was:
A. 7,800 hours B. 7,200 hours C. 8,000 hours D. 7,600 hours