Which of the following is/are not true?
a. U.S. GAAP and IFRS require firms to recognize the cost of retirement benefits (pensions, health care, life insurance) as an expense while employees work, not when they receive payments or other benefits during retirement.
b. Employers often contribute cash to a trust, an entity administered by the employer, to fund their retirement obligations.
c. The accounting records of the trust established to fund the retirement obligations are separate from the accounting records of the employer, and the amounts on the two sets of books usually differ.
d. Payments to employees come from both the employer's contributions and investment returns of the trust established to fund the retirement obligations.
e. all of the above
B
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Which of the following activities is typical of the screening stage?
A. People must be hired and trained to provide services. B. Strengths, Weaknesses, Opportunities, and Threats are identified. C. Goods have to be produced to fill the channels of distribution. D. Products are introduced region by region in a gradual "rollout." E. Manufacturing or service facilities have to be set up.
Discuss the need to understand competitors as well as customers through competitor analysis
What will be an ideal response?
When direct labor and overhead enter the production process at different rates, it is appropriate to use a conversion cost per equivalent unit.
Answer the following statement true (T) or false (F)
The December 31, 2009 balance sheet shows net fixed assets of $150,000 and the December 31, 2010
balance sheet shows net fixed assets of $250,000. Depreciation expense for 2009 is $25,000 and depreciation expense for 2010 is $35,000. Based on this information, the cost of fixed assets purchased during 2010 is A) $100,000. B) $160,000. C) $110,000. D) $135,000.