Why was the Brundtland Commission formed?
What will be an ideal response?
The concept of sustainable development can be traced to a 1987 report from the United Nations' World Commission on Environment and Development (WCED), more commonly known as the Brundtland Commission, named for its chair Gro Harlem Brundtland. The commission was charged with developing recommendations for paths toward economic and social development that would not achieve short-term economic growth at the expense of long-term environmental and economic sustainability. The Brundtland Commission offered what has become the standard definition of sustainable development. According to the commission, "sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs."
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Carver Corporation uses the FIFO method in its process costing system. The Assembly Department started the month with 2,000 units in its beginning work in process inventory that were 60% complete with respect to conversion costs. An additional 66,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 9,000 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Assembly Department for the month?
A. 59,000 B. 63,500 C. 73,000 D. 62,300
National Financial Services, Inc. invested $21,000 to acquire 6250 shares of Stone bridge Investments, Inc. on March 15, 2015. This investment represents less than 20% of the investee's voting stock. On May 7, 2018, National Financial Services, Inc. sells 3000 shares for $19,250. When the journal entry to record the sale is made, ________.
A) Gain on Disposal will be credited B) Equity Investments will be debited C) Cash will be credited D) Loss on Disposal will be debited
Explain what a joint tenancy is.
What will be an ideal response?
Karl Company accrued wages of $7,350 that were earned by employees unpaid at the year-end. Assuming Karl uses reversing entries, which of the following entries correctly reverses the accrued wages at the beginning of the following year?
A. Debit Cash $7,350; credit Wages Expense $7,350. B. Debit Wages Expense $7,350; credit Wages Payable $7,350. C. Debit Wages Payable $7,350; credit Cash $7,350. D. Debit Wages Expense $7,350; credit Cash $7,350. E. Debit Wages Payable $7,350; credit Wages Expense $7,350.