SFA Inc. has a team of ten information systems (IS) personnel. The personnel are kept busy throughout the day as they help employees solve even the most trivial issues. In which of the following ways can the employees assist the IS personnel in this scenario?
A. by installing security programs by themselves
B. by sharing their passwords with others to use their help in solving those trivial issues
C. by learning basic computer skills
D. by setting up their own data backup schedules
E. by making hardware modifications
Answer: C
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What effect does the process of accord and satisfaction have on creditors?
A. It prevents creditors from filing for involuntary bankruptcy. B. It discharges debt. C. It prevents a creditor from suing while the business is revising its business model. D. Contract terms with creditors are renegotiated, releasing the debtor from liability by settling the debt.
A manufacturer of industrial equipment has a standard costing system based on standard direct labor-hours (DLHs) as the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below: Level of activity 2,500DLHs Overhead costs at the denominator activity level: Variable overhead cost$8,500 Fixed overhead cost$34,625 The following data pertain to operations for the most recent period: Actual hours 2,600DLHs Standard hours allowed for the actual output 2,592DLHs Actual total variable manufacturing overhead cost$9,100 Actual total fixed manufacturing overhead cost$35,025 What is the predetermined overhead rate to the nearest cent?
A. $17.65. B. $16.59. C. $17.25. D. $16.97.
When a subsequent event provides evidence about conditions that did not exist at the balance sheet date, what is the best course of action for the auditor to follow?
a. Ensure that any necessary footnote disclosures be included with the statements. b. Ensure that the financial statements are adjusted to reflect the information, including any necessary footnote disclosures. c. Give an inappropriate opinion. d. Provide management with a new engagement letter to document the terms of the revised arrangement.
Firms that capitalize routine maintenance and repair charges will end up with the result of having the current period's income being ____________________
Fill in the blank(s) with correct word