The capacity available with no regard for downtime, utilization and efficiency is:
A) measured capacity. B) finite capacity.
C) theoretical capacity. D) available time.
C
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Which of the following is not true?
a. A trial balance can be in balance even though an error exists in the general ledger; b. The ruling method is used to correct errors; c. Source documents trigger an analysis of the financial statements; d. Accounts are listed in the trial balance in the order listed in the chart of accounts; e. A difference in the trial balance column totals that is evenly divisible by 9 indicates a transposition error.
If a neutral or indifferent scale response is possible for at least some of the respondents, ________
A) an even number of categories should be used B) an odd number of categories should be used C) only one category should be used D) the number of categories used is unimportant E) B and C
Ending merchandise inventory is not included in the calculation of cost of goods available for sale
Indicate whether the statement is true or false
In its first year of operations, Lear Company reported financial statement income (prior to income tax expense) of $100,000 . In the same year, Lear Company reported $80,000 of taxable income, the difference being due to temporary differences. Assuming the enacted tax rate for the current year and all future years is 30%, what is Lear's current year adjustment for deferred income taxes?
a. Debit to Deferred Income Tax Liability for $6,000 b. Debit to Income Tax Expense for $6,000 c. Credit to Income Taxes Payable for $6,000 d. Credit to Deferred Income Tax Liability for $6,000 e. Credit to Income Tax Expense for $6,000