If an adjusting entry is not made for an accrued expense,
a. expenses will be overstated.
b. liabilities will be understated.
c. net income will be understated.
d. owner's equity will be understated.
Ans: b. liabilities will be understated.
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Work-in-process inventory builds up at the work station when ______.
a. load to a work center exceeds its existing capacity b. load to a work center is lesser than its existing capacity c. load to a work center is equal to its existing capacity d. load to a work center is zero
To advance in your career, sometimes you need to engage in questionable behavior.
Answer the following statement true (T) or false (F)
Alyssa works for an engineering firm that has been hired to design and supervise the construction of a highway bridge over a major river. The bridge will be a unique design, incorporating complex designs that will likely never be duplicated. How should Alyssa deal with designing and overseeing the building of the bridge?
A. She should assemble a permanent, full-time group of production workers to produce the parts needed for the bridge. B. She should reward employees who have been with the company the longest with the opportunity to join the team. C. She should gather a group of people with a wide range of specialized talents to work on the bridge until it is completed. D. She should build a team of reliable workers who work well together and like being around each other. E. She should create a permanent team of management executives to monitor this and all projects her firm accepts.
The standard deviation for a set of stock returns can be calculated as the:
A) positive square root of the average return. B) average squared difference between the actual return and the average return. C) positive square root of the variance. D) average return divided by N minus one, where N is the number of returns. E) variance squared.