When computing the cost per equivalent unit, the FIFO process costing method considers
a. current costs only.
b. current costs plus ending work in process inventory costs.
c. current costs less ending work in process inventory costs.
d. current costs plus beginning work in process inventory costs.
A
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Franklin Corporation issues $50,000, 10%, 5-year bonds on January 1, for $52,100 . Interest is paid semiannually onJanuary 1 and July 1 . If Franklin uses the straight-line method of amortization of bond premium, the amount of bondinterest expense to be recognized on July 1 is
a. $10,290 b. $2,710 c. $2,500 d. $2,290
Which of the following underlying assumptions for the conceptual framework is the reason the dollar is used in the preparation of financial statements?
A) Economic entity B) Continuity C) Time period D) Monetary unit
Classical economists, who support the profit-oriented school of social responsibility, recognize that there will be unintended effects of profit-seeking activities, called ________,
that affect society and cannot be incorporated into or passed on in the price of an output. A) unforeseeable circumstances B) concomitant consequences C) externalities D) internalities
After writing a follow-up letter to thank your interviewer, your next step should be A) alerting your references that they may be contacted by the employer
B) sending a small gift to the receptionist to show your sincere appreciation. C) calling the organization's human resources department to learn more about your competitors for the open position. D) waiting at least one month for a call of acceptance or rejection.