Successful firms are very careful in selecting the work to be outsourced. If expectations and requirements are fuzzy or open to debate, working together can become very difficult. The following are ways to clarify requirements and procedures EXCEPT
A. Make sure communication is well structured and interactions are managed to avoid confusion.
B. Establish who has access to certain information through robust safeguards.
C. Contract only work with clearly defined deliverables with measurable outcomes.
D. Make sure that different firms' project management systems are integrated.
E. Document your requirements.
Answer: A
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Concerns and criticisms regarding advertising include the following, except:
A) advertising causes people to buy more than they can afford B) advertising leads to socialism C) advertising overemphasizes materialism D) advertising increases the costs of goods and services
Chavez Corporation reported the following data for the month of July:Inventories: BeginningEndingRaw materials$27,000$30,000Work in process$16,000$17,000Finished goods$32,000$47,000 Additional information: Raw materials purchases$66,000Direct labor cost$91,000Manufacturing overhead cost incurred$59,000Indirect materials included in manufacturingoverhead cost incurred$8,000Manufacturing overhead cost applied to Work in Process$58,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is:
A. $66,000 B. $63,000 C. $55,000 D. $69,000
Gunther Co. established a subsidiary in Mexico on January 1, 2018. The subsidiary engaged in the following transactions during 2018: Jan. 1Sold common stock to Gunther for 5,000,000 pesos. Purchased inventory throughout the year, 8,000,000 pesos (¼ of the inventory remained at year end). Sales for the year totaled 12,000,000 pesos.Dec.31Purchased equipment for 1,000,000 pesos.??Gunther concluded that the subsidiary's functional currency was the dollar. Exchange rates for 2018 were:? Jan. 11peso=$0.20 311peso=$0.19Dec.311peso=$0.16Weighted average rate for the year1peso=$0.18??What amount of foreign exchange gain or loss would have been recognized in Gunther's consolidated income statement for 2018?
A. $440,000 loss. B. $760,000 gain. C. $280,000 loss. D. $800,000 gain. E. $320,000 loss.
On October 1, a company lends $10,000 to an employee who signs a 9%, 6-month promissory note. The company is preparing its year-end financial statements on December 31. No adjusting entries have been recorded in connection with this note. What adjusting entry should be recorded before the financial statements are prepared?
A. Debit Interest Revenue and credit Interest Receivable for $450. B. Debit Interest Receivable and credit Interest Revenue for $225. C. Debit Interest Receivable and credit Interest Revenue for $450. D. Debit Interest Revenue and credit Interest Receivable for $225.