Explain the differences between continuous process operations and repetitive process operations.
What will be an ideal response?
Continuous process operations produce outputs that are not in discrete units, such as utilities (gas or electric, for example). Such products are produced at high volume with little or no variety. Repetitive process operations (RPO) produce products in an assembly line structure having each unit follow the same path. Most consumer and industrial goods are produced using RPO.
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Baird Company reported depreciation expense of $10,000 and net income of $16,000 on its Year 2 income statement. During Year 2, the company's accounts receivable balance decreased by $4,000. Based on this information alone, what was the amount of cash flow from operating activities?
A. $32,000 B. $16,000 C. $30,000 D. $12,000
The Sunshine Act allows for closed meetings if they concern agency participation in pending or anticipated litigation
a. True b. False Indicate whether the statement is true or false
An easement by implication arises when one conveys a portion the land that has been used as a dominant estate in relation to the part retained
Indicate whether the statement is true or false
Chapter 7 Liquidations. In 1987, Bank South repossessed and sold Jamie Lee Busbin's 1979 Ford LTD automobile. The price that the automobile brought at the sale was $1,450 short of the amount Busbin owed Bank South. Bank South obtained a deficiency
judgment for the $1,450 and garnished Busbin's wages, collecting $896.46. Busbin filed a voluntary petition for a Chapter 7 bankruptcy discharge, listing Bank South's claim for $1,450 as his sole debt. Busbin told the court that he intended to file a complaint to recover the $896.46 Bank South had already collected on the ground that the sale had not been conducted so as to obtain the highest price for the car, but he offered no evidence to support his contention. Busbin showed that he had a monthly net income of $1,150, expenses of $970, and disposable income of $130 and that he expected an income tax refund of $500. A motion to dismiss Busbin's petition was filed, alleging that he had a present ability to pay his outstanding debts and that granting a discharge would be a substantial abuse of the provisions of Chapter 7. Will the court dismiss Busbin's petition? Explain.