Similar to the GASB, the FASB requires not-for-profit entities to prepare the statement of cash flows using the direct method.
Answer the following statement true (T) or false (F)
False
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The customer master data is a data store that contains data identifying the particular characteristics of each customer
Indicate whether the statement is true or false
This sentence has correct punctuation: "The telephone rang incessantly and the microphone emitted a screeching feedback sound."
a. true b. false
The manager of University Credit Union (UCU) is concerned about checking account transaction discrepancies. Customers are bringing transaction errors to the attention of the bank's staff several months after they occur. The manager would like to know what proportion of his customers balance their checking accounts within 30 days of receiving a transaction statement from the bank. Using random
sampling, 400 checking account customers are contacted by telephone and asked if they routinely balance their accounts within 30 days of receiving a statement. 271 of the 400 customers respond Yes. a. Develop a 95% confidence interval estimate for the proportion of the population of checking account customers at UCU who routinely balance their accounts in a timely manner. b. Suppose UCU wants a 95% confidence interval estimate of the population proportion with a margin of error of E = .025 . What sample size is needed?
The management of Musselman Corporation would like to set the selling price on a new product using the absorption costing approach to cost-plus pricing. The company's accounting department has supplied the following estimates for the new product: Per UnitPer YearDirect materials$27 Direct labor$16 Variable manufacturing overhead$8 Fixed annual manufacturing overhead $216,000 Variable selling and administrative expenses$3 Fixed annual selling and administrative expenses $72,000 Management plans to produce and sell 9,000 units of the new product annually. The new product would require an investment of $1,305,000 and has a required return on investment of 10%. The markup percentage on absorption cost is closest to:
A. 25% B. 10% C. 34% D. 15%