George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court. He would like to appeal the decision. Which one of the following is true?
A) There is no appeal.
B) He can appeal the case, but only if the amount of tax involved is greater than $5,000.
C) He would appeal first to the U.S. Court of Appeals for the Federal Circuit.
D) He would appeal first to the U.S. Court of Federal Claims.
A) There is no appeal.
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If a company recognizes a loss due to inventory write-down then the inventory value subsequently increases due to a market reversal the following year, GAAP does not permit the loss to be recovered
Indicate whether the statement is true or false
Today the company is having a board meeting, and Steve, along with his staff, has been asked to prepare a special luncheon to be served in a conference room. All of top management will be attending
To gain political advantage in this situation, what do you recommend that Steve do? A) Go beyond the call of duty, and prepare an elegant meal that does not reflect imprudent spending. If Steve is complimented, he will share credit with his staff. B) Prepare a 30-second speech about his capabilities, which he will present to any executive with whom he interacts. C) Maintain a low profile, but leave a card at each plate setting with his Twitter and Facebook addresses. D) While the meal is being served, inform the members present that he has ambitions beyond the role of cafeteria manager.
Walter Shewhart is listed among the important people of operations management because of his contributions to:
A) assembly line production. B) measuring productivity in the service sector. C) just-in-time inventory methods. D) statistical quality control. E) information technology.
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production$65,000Wages paid to the workers who paint the figurines$90,000Wages paid to the sales manager's secretary$22,000Cost of junk mail advertising$47,000 What is the total of the product costs above?
A. $0 B. $159,000 C. $155,000 D. $69,000