Expanded assortment and/or reduced margins and service are characteristic of
A. specialty shops.
B. supermarkets.
C. the Internet.
D. convenience stores.
E. department stores.
Answer: B
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Reliability answers the important question if one is measuring something that matters.
Answer the following statement true (T) or false (F)
A company originally issued 13,000 shares of $6 par value common stock at $12 per share. The board of directors declares a 12% stock dividend when the market price of the stock is $22 a share. Which of the following is included in the entry to record the declaration of a stock dividend?
A) Stock Dividends is debited for $34,320. B) Stock Dividends is credited for $34,320. C) Stock Dividends is debited for $18,720. D) Paid-In Capital in Excess of Par—Common is credited for $18,720.
Disc Company purchased equipment at the beginning of 2010 for $200,000. The company decided to depreciate the equipment over an 5-year period using the straight-line method. The company estimated the equipment's salvage value at $20,000. The journal entry to record depreciation expense for 2011 is a debit to:
A) depreciation expense and a credit to accumulated depreciation for $40,000. B) accumulated depreciation and a credit to equipment for $40,000. C) depreciation expense and a credit to equipment for $36,000. D) depreciation expense and a credit to accumulated depreciation for $36,000.
Which method of measuring costs associated with production is more widely used in practice?
A) Normal Costing B) Actual Costing C) Both are used equally. D) Neither one is used. E) cannot be determined