Which of the following statements correctly identifies an advantage of checking accounts over cash??
A. ?Checks are more convenient to use for day to day transactions.
B. ?Checks are accepted by almost all sellers while cash may not be accepted.
C. ?Checks are more liquid than cash.
D. ?Lost or stolen checks cannot be used unless they have the account holder's signature.
Answer: D
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The most valid reason for using something other than a full-cost-based transfer price between units of a company is because a full-cost price
a. is typically more costly to implement. b. does not ensure the control of costs of a supplying unit. c. is not available unless market-based prices are available. d. does not reflect the excess capacity of the supplying unit.
Identify the false statement with regard to the impact of color on the moods of employees
A. Warm colors, such as red, orange, and yellow, create warm and cheerful moods. B. Natural colors, such as beige and white, produce depression. C. Cool colors, such as greens, blue, and violet, create calm and retiring moods. D. Grey produces a sleep-inducing effect.
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $3 per unit, Variable overhead, $4 per unit, and Fixed overhead, $250,000. The company produced 25,000 units, and sold 20,000 units, leaving 5,000 units in inventory at year-end. What is the value of ending inventory under variable costing?
A. $60,000 B. $250,000 C. $50,000 D. $310,000 E. $110,000
Citizens have always been afforded freedom of speech after the ratification of the U.S. Constitution
a. True b. False