When the Food and Drug Administration prohibits a certain drug from being marketed in the United States, this is
A)private law
B)an agency regulation.
C)legal negativism.
D)an executive order.
B
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Which of the following is not a suggested tool for action planning?
a. A pro/con list b. A to do list c. Surveys d. Responsibility charts
Robnett Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:InputsStandard Quantityor HoursStandard Price or RateStandard CostDirect materials3.8liters$6.50per liter$24.70Direct labor0.60hours$18.00per hour 10.80Fixed manufacturing overhead0.60hours$18.50per hour 11.10Total standard cost per unit $46.60During the year, the company completed the following transactions:a. Purchased 106,900 liters of raw material at a price of $6.80 per liter.b. Used 93,760 liters of the raw material to produce 24,700 units of
work in process.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.?CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)?1/1$1,110,000$54,340$0$60,580$616,800=a.?????=b.?????=?Materials Price VarianceMaterials Quantity VarianceLabor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings1/1$0$0$0$0$0$0$1,841,720a.???????b.???????When recording the raw materials used in production in transaction (b) above, the Raw Materials inventory account will increase (decrease) by: A. $609,440 B. ($637,568) C. ($609,440) D. $637,568
Which of the following costs are deductible as an itemized medical expense?
A. Medical expenses incurred to prevent disease. B. The cost of elective cosmetic surgery. C. The cost of prescription medicine and over-the-counter drugs. D. Medical expenses reimbursed by health insurance. E. None of these costs are deductible.
Separation of duties in an organization should be required to reduce the likelihood of theft.
Answer the following statement true (T) or false (F)