The Cash Over and Short account:
A. Is not necessary in a computerized accounting system.
B. Can never have a debit balance.
C. Is used to record the income effects of errors in making change and/or processing petty cash transactions.
D. Is used when the cash account reports a credit balance.
E. Can never have a credit balance.
Answer: C
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Buchanan Enterprises is considering investing in a machine that costs $400,000. The machine is expected to generate revenues of $175,000 per year for five years. The machine would be depreciated using the straight-line method with no half-year convention over five years and have no salvage value. The company considers the impact of income taxes in all of its capital investment decisions. The
company has a 40 percent income tax rate and desires an after-tax rate of return of 10 percent on its investment. The net present value of the machine is: A) $179,992. B) $(13,338). C) $119,337. D) $(1,966).
In a "qualified tax-deferred" retirement plan, taxes are deferred on
A) employer contributions and interest earned by the retirement fund. B) only employer contributions. C) only interest earned by the retirement fund. D) only employee contributions.
Dane Company has a break-even point of 120,000 units. If the firm's sole product sells for $40 and fixed costs total $480,000, the variable cost per unit must be:
A. $44. B. $36. C. $4. D. an amount that cannot be derived based on the information presented. E. an amount other than $4, $36, or $44, but one that can be derived based on the information presented.
Provide an explanation for the concept of asset allocation in investing and differentiate between the 3 stages
What will be an ideal response?