Chu Enterprise's inventory increased during the year. On the basis of this information, income reported under absorption costing:
A. will be the same as that reported under variable costing.
B. will differ from that reported under variable costing, the direction of which cannot be determined from the information given.
C. will be less than that reported in the previous period.
D. will be lower than that reported under variable costing.
E. will be higher than that reported under variable costing.
Answer: E
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Martha is a 40 percent partner in the MMM Partnership, with an outside basis of $50,000. MMM distributes $40,000 cash and accrual-basis accounts receivable with a basis and fair market value of $20,000. Martha does not recognize gain or loss on the distribution and takes a basis in the cash of $40,000 and a basis in the receivables of $10,000.
Answer the following statement true (T) or false (F)
__________________ exist for long periods of time and can become a permanent part of the organization.
A. Committees B. Participative teams C. Cross-functional teams D. Task forces E. Problem-solving team
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Indicate whether the statement is true or false
A battery is the reckless or intentional injuring of a person
a. True b. False