As one of the safeguards against security threats, a person should preferably use the samepassword for different sites so as to avoid confusion
Indicate whether the statement is true or false
FALSE
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When an agent takes an unauthorized action, the:
A. principal can transfer liability to the agent while enjoying the benefits of the action. B. action may be ratified provided that the principal is a corporation. C. action cannot be ratified by the principal. D. principal may not ratify only a portion of the action.
Sometimes financial statements are presented without an accompanying accountant's report
Indicate whether the statement is true or false
When an asset's depreciation is recorded, it's carrying value increases
Indicate whether the statement is true or false
Furtado Incorporated makes a single product-a cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted manufacturing overhead$191,940 Budgeted hours 21,000labor-hours Actual production (a) 35,000unitsStandard hours per unit (b) 0.70labor-hoursStandard hours allowed for the actual production (a) × (b) 24,500labor-hours Total actual manufacturing overhead$190,874 Actual hours 23,200labor-hours?The total amount of manufacturing overhead applied is closest to:
A. $190,874 B. $212,048 C. $201,600 D. $223,930