Information granularity means immediate, up-to-date information.
Answer the following statement true (T) or false (F)
False
Real-time information means immediate, up-to-date information.
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On November 1, 2014, Chancellor Co borrowed $80,000 from State Bank and signed a 12%, six-month note payable, all due at maturity. The interest on this loan is stated separately. At December 31, 2014, the adjusting entry for this note includes a:
a. Debit to Interest Expense for $3,200. b. Credit to Notes Payable for $1,600. c. Credit to Cash for $4,800. d. Credit to Interest Payable for $1,600.
Galla Inc. operates in a highly competitive market where the market price for its product is $170 per unit. Galla desires a $15 profit per unit. Galla expects to sell 5,000 units. Additional information is as follows: Variable product cost per unit$15 Variable administrative cost per unit 10 Total fixed overhead 45,000 Total fixed administrative 18,000 Using target costing, what is the target cost?
A. $130.00 B. $145.00 C. $160.00 D. $155.00 E. $135.00
The process of comparing or aligning the facts of a client's case with the elements of a statute is one element of legal analysis
a. True b. False
Tommie, a six-year-old child, was seriously injured when he stuck a fork into an electrical outlet at a restaurant. His parents sued the restaurant where the incident occurred, claiming it should have had child protective guards on the outlets even though no law required the restaurant to do so. Whether the restaurant is liable will be dependent upon whether
a. the incident was reasonably foreseeable. b. the court views Tommie as a licensee or a trespassing child. c. this is negligence per se. d. this is an ultrahazardous activity.