Many operating managers find the traditional income-statement format difficult to use, because it does not separate revenues and expenses.
Answer the following statement true (T) or false (F)
False
This statement regarding the traditional income statement format is false.
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Ignacio has prepared a general outline for the ethics workshop he is about to lead for the employees of a small company, but he would still like to fine-tune his plans by determining what would be most relevant for his audience. What should his first step during the seminar be?
a. Give attendees a short quiz about a complex or nuanced ethics topic related to the company’s work. b. Give attendees a short quiz about a simple, straightforward ethics topic to establish where they stand. c. Ask attendees to relate--privately--the worst or most challenging ethics problems they have encountered. d. Hold an open discussion in which he takes recommendations from attendees about which topics they find most compelling.
When revising for content you should
A) include sufficient information B) describe your policy C) give an answer D) look for negative language
Ryan, a minor, contracted to sell his auto to Ed, a 28-year-old. Ryan later refused to complete the sale. If Ed sues to enforce the contract, Ed will:
a. win because Ryan was the seller. b. win because minors can only avoid contracts for the sale of land. c. lose, as the contract is void. d. lose, because the contract is voidable by Ryan.
Dock Corporation makes two products from a common input. Joint processing costs up to the split-off point total $33,600 a year. The company allocates these costs to the joint products on the basis of their total sales values at the split-off point. Each product may be sold at the split-off point or processed further. Data concerning these products appear below: Product XProduct YTotalAllocated joint processing costs$16,800$16,800$33,600Sales value at split-off point$24,000$24,000$48,000Costs of further processing$15,000$18,700$33,700Sales value after further processing$35,500$45,100$80,600What is the minimum amount the company should accept for Product X if it is to be sold at the split-off point?
A. $31,800 B. $16,800 C. $20,500 D. $35,500