A network of organizations and business processes for procuring raw materials, transforming these materials into intermediate and finished products, and distributing the finished products to customers is called a(n):
A) distribution channel.
B) supply chain.
C) value chain.
D) marketing channel.
E) enterprise system.
B
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Which of the following statements regarding vacation benefits is correct?
A) No entry is needed until the employee takes a paid vacation. B) The account, Vacation Expense is debited when the employee takes a paid vacation. C) Health and pension benefits are recorded in the same manner as vacation benefits. D) When an employee takes a paid vacation, the account, Vacation Benefits Payable is credited.
The ADA applies to all employers
Indicate whether the statement is true or false
The following data have been provided by Liggett Corporation: Budgeted production 7,400unitsStandard machine-hours per unit 6.6machine-hoursStandard lubricants rate$3.50per machine-hourStandard supplies rate$2.00per machine-hour Actual production 7,600unitsActual machine-hours (total) 49,840machine-hoursActual lubricants cost (total)$179,821 Actual supplies cost (total)$98,933 Lubricants and supplies are both elements of variable manufacturing overhead.The variable overhead rate variance for supplies is closest to:
A. $1,387 F B. $1,387 U C. $747 F D. $640 F
One item that appears on an insurance company's financial statements is a liability that represents an estimate of the claims reported and adjusted but not yet paid, claims reported and filed but not yet adjusted,
and claims incurred but not yet reported to the company. This liability is called the insurer's A) net income. B) loss reserves. C) admitted assets. D) unearned premium reserve.