The amount of leeway each activity has in its starting time and duration without delaying the project
A) Standard time
B) Normal time
C) Crash time
D) Slack time
E) Critical time
D
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Materiality judgments are made in light of the surrounding circumstances, but need not necessarily involve both quantitative and qualitative considerations
a. True b. False Indicate whether the statement is true or false
Silvia's Studio provided $220 of dance instruction and rented out its dance studio to the same client for another $135. The client paid cash immediately. Identify the general journal entry below that Silvia's Studio will make to record the transaction.
A.
| Accounts Payable | 355? | |
| Rental Revenue | 135? | |
| Instruction Revenue | 220? |
B.
| Rental Revenue | 135? | |
| Instruction Revenue | 220? | |
| Accounts Receivable | 355? |
C.
| Rental Revenue | 135? | |
| Instruction Revenue | 220? | |
| Cash | 355? |
D.
| Cash | 355? | |
| Rental Revenue | 135? | |
| Instruction Revenue | 220? |
E.
| Unearned Revenue | 355? | |
| Rental Revenue | 135? | |
| Instruction Revenue | 220? |
The checklist of steps necessary for approving an invoice for recording and payment, also known as the check authorization, is the:
A. Purchase order. B. Purchase requisition. C. Receiving report. D. Invoice. E. Invoice approval.
Which of the following is true of adopting the Restatement (Third) of Torts: Product Liability?
A) The seller's liability differed depending on whether the defect was a manufacturing defect, a design defect, or a defective warning. B) The seller's liability differed depending on whether the plaintiff was a merchant, a consumer, or a minor. C) The privity limitation was reinstated as a defense to product liability lawsuits. D) The state-of-the-art defense is permitted by courts in most strict liability cases.