Which of the following would most likely be classified as a current liability?
A) Two-year notes payable
B) Bonds payable
C) Mortgage payable
D) Portion of long-term debt due within one year
D
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Swisher, Incorporated reports the following annual cost data for its single product:Normal production level 30,000unitsDirect materials$6.40per unitDirect labor$3.93per unitVariable overhead$5.80per unitFixed overhead$150,000in total This product is normally sold for $48 per unit. If Swisher increases its production to 50,000 units, while sales remain at the current 30,000 unit level, by how much would the company's income increase or decrease under absorption costing?
A. $60,000 increase. B. $90,000 increase. C. There is no change in income. D. $90,000 decrease. E. $60,000 decrease.
A salesperson makes a large sale for which she is entitled to a commission. To avoid making the payment, the employer terminates the employee. The legal claim that best applies to this termination is:
a. breach of the covenant of good faith and fair dealing b. promissory estoppel c. intentional interference with a contractual relationship d. implied contract e. infliction of emotional distress
_____ embrace products relatively early in the product life cycle, are likely to be community oriented, and often are opinion leaders themselves.
A. Early adopters B. Innovators C. Early majority D. Late majority E. Laggards
Name the types of interests subject to the Rule Against Perpetuities