Travel Trails, Inc manufactures railway coaches and uses the FIFO method of process costing to record costs
The Work-in-Process Inventory of the Heating Department on October 1 was 74% complete for materials and 23% complete for conversion costs. On October 31, its ending Work-in-Process Inventory was 84% complete for materials and 41% complete for conversion costs. This means that for the ending inventory, ________% of the materials and ________% of the conversion costs were added during October.
A) 74; 41
B) 26; 23
C) 84; 41
D) 41; 84
C
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A class of stock for which there is no minimum legal capital is called:
A. Discounted stock. B. Noncumulative stock. C. No-par stock. D. Callable stock. E. Convertible stock.
An operating agreement can be amended orally
Indicate whether the statement is true or false
If a firm outsources some parts of its value chain in order to reduce costs and increase quality and at the same time engages in multiple alliances to penetrate new markets, this is an example of a firm using a ________ of organizational types.
A. boundaryless consortium B. bounded consortium C. combination D. barrier-free collection
Trade among nations or regions depends on political stability. In recent times, billions of dollars have been lost in ________ and ________ as a result of internal political strife, terrorism, and war.
A. France; Spain B. Russia; Poland C. China; Japan D. Germany; the United Kingdom E. the Middle East; Africa