Alberto’s New York Sirloin, ordered medium, was brought out overcooked. Unfortunately, this meant he would have to wait for another steak to be cooked and they had tickets to a play. The staff promised they could get the steak out quickly, but when the new steak came out it was extremely rare. The service recovery plan was to simply not charge Alberto for his meal that he never ate. However, they still charged him for his 2 cocktails. This type of justice is ______.
a. equitable
b. distributive
c. procedural
d. interactional
b. distributive
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A company had the following amounts of common stock outstanding: 9,000 shares from January through April, 15,000 shares from May through October, and 25,000 shares from November through December. What is the weighted-average number of shares rounded to nearest dollar used in earnings per share calculations?
a. 25,000 b. 13,917 c. 49,000 d. 14,667
A bond with a par value of $1,000 trading at 101½ sells for a premium.
Answer the following statement true (T) or false (F)
Computer technology is protected by the law of
a. eminent domain. b. copyright law. c. trade secrets d. both b and c.
Select the incorrect statement regarding cost flows through a process costing system.
A. A separate Work in Process account is maintained for each department or process. B. Product costs are accumulated separately by job. C. The three inventory accounts used are maintained on a perpetual basis. D. The process costing system is patterned after the physical flow of products as they move through the production process.