A decrease in the balance of merchandise inventory is added to net income when calculating net cash flows from operating activities using the indirect method
Indicate whether the statement is true or false
T
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Which of the following is an advantage of using dynamic models?
A. ?They help us understand how people form expectations about future economic variables. B. ?They help us understand the consumption decision of economic agents at a given point in time. C. ?They help us understand the production decisions of firms at a given point in time. D. ?They help us understand the movements in the business cycle.
Answer the following statements true (T) or false (F)
1. David, an employee of Cecil, Inc., has gross salary for March of $5,900. The entire amount is under the OASDI limit of $118,500, and thus subject to FICA. He is also subject to federal income tax at a rate of 30%. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. The journal entry to record the employer's payroll tax expense includes a credit to FICA-OASDI Taxes Payable for $365.80. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) 2. Joel, an employee of Cruise Travel, Inc., has gross salary for March of $5,200. The entire amount is under the OASDI limit of $118,500, and thus subject to FICA. He is also subject to federal income tax at a rate of 29%. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. The journal entry to record employer's payroll tax expense includes a credit to FICA-Medicare Taxes Payable for $150.80. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) 3. The journal entry to record the employer's payroll tax expense will include a debit to Employee Income Taxes Payable. 4. Maywood Company withholds $720 from Steve's paycheck for federal income tax. This amount is part of the company's payroll tax expense.
Managers often ignore base rates in favor of how well a particular example matches their expectation. ______can overrule the logic of probability.
A. Availability B. Representativeness C. Adjusting D. Heuristics
Consequential damages are awarded for damage caused by special circumstances beyond a contract itself
a. True b. False Indicate whether the statement is true or false