In the state where Susan lives, drivers whom private insurance companies do not want to insure are placed in a common pool, and each insurer pays its pro rata share of pool losses and expenses
A common policy is used for all high-risk drivers. Susan's state handles high-risk drivers through a(n)
A) automobile insurance plan.
B) joint underwriting association.
C) pure no-fault plan.
D) specialty auto insurer.
Answer: B
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Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours 50,000Total fixed manufacturing overhead cost$285,000Variable manufacturing overhead per direct labor-hour$3.80Recently, Job P513 was completed with the following characteristics: Number of units in the job 10Total direct labor-hours 20Direct materials$710Direct labor cost$500The estimated total manufacturing overhead is closest to:
A. $475,000 B. $285,004 C. $285,000 D. $190,000
Assume the indirect method is used to compute net cash flows from operating activities. For this item extracted from the financial statements—Decrease in Accounts Payable—indicate the effect on net income in arriving at net cash flows from operating activities by choosing one of the following:
a. Add to net income to arrive at net cash flows from operating activities b. Subtract from net income to arrive at net cash flows from operating activities c. Not used to adjust net income to calculate net cash flows from operating activities
The job description can help define relationships between individuals and departments
Indicate whether the statement is true or false
Corporate governance and codes of ethics are intended to ________ organizational members.
a. Punish b. Reward c. Discipline d. Motivate