In a process costing environment, unit costs are computed by dividing the process costs for the given period by the output of the period
Indicate whether the statement is true or false
True
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Exhibit 21-1 The Raymond Corporation reported $11,000 of net income for the current year and also uses the visual inspection method for completing the statement of cash flows. The following additional information relates to Raymond for the year: Subsidiary gain included in investment income under the equity method $ 370 Decrease in inventory 80 Loss on disposal of equipment 900 Proceeds from
disposal of equipment 1,400 Depreciation expense 1,200 Acquisition of treasury stock 650 Increase in accounts payable 290 Acquisition of new securities (accounted for using the equity method) 500 Decrease in deferred income tax liability 210 Early retirement of bonds payable at book value 1,000 Increase in interest receivable 30 ? Refer to Exhibit 21-1. What is Raymond's net cash provided by investing activities? A) $ 250 B) $ 900 C) $2,170 D) $3,370
Recognizing more bad debt expense in a year than is necessary in order to have flexibility in recognizing bad debt expense in a future year is an example of
a. a big bath charge. b. creative acquisition accounting. c. a cookie jar reserve. d. premature recognition of revenue.
When communicating in the workplace, suggesting that a reader has only two options is
A) Effective. B) Deceitful. C) Sometimes necessary. D) Dif?cult.
Scenario 7.1 Use the following to answer the questions. Samsung is entering the home appliance market with its new French Door Refrigerator. In designing the production facility, it has a need for various pieces of equipment, including the perpetual assembly belt drive, quasi-assembly pods, and finishing stations. The purchasing agent for the appliance division is inquiring about who will be needed for input on the purchasing decision. Samsung has already contacted several producers of the quasi-assembly pods, and has begun negotiations with their sales representatives. Refer to Scenario 7.1. What was the first step of the buying decision process that Samsung went through when looking for the quasi-assembly pods?
A. Searching for products and suppliers B. Selecting and ordering the most appropriate product C. Recognizing the problem or need D. Establishing product specifications E. Evaluating the product relative to specifications