____________ include lack of communication, incompatible personalities, and collisions in value systems.
a. Antecedent of conflict
b. Discern conflict
c. Manifest conflict
d. Outcomes of conflict
a. Antecedent of conflict
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Camping Gear Company had 500 units of inventory on hand at the end of the year. These were recorded at a cost of $14 each using the last-in, first-out (LIFO) method. The current replacement cost is $10 per unit. The selling price charged by Camping Gear Company for each finished product is $17. As a result of recording the adjusting entry as per the lower-of-cost-or-market rule, the gross profit will ________.
A) increase by $5,000 B) decrease by $5,000 C) increase by $2,000 D) decrease by $2,000
Managers use philosophies that guide them in their decision making
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. In the cash receipts journal, the Other Accounts CR column is used when a transaction involves a credit entry that is not listed in the headings (columns) of the cash receipts journal. 2. Unlike the sales journal, entries in the cash receipts journal are posted monthly to the accounts receivable subsidiary ledger and daily to the general ledger. 3. Cash purchases are recorded in the purchases journal. 4. The purchases journal is a special journal used to record all purchases of merchandise inventory, office supplies, and other assets on account.
The distinction between direct and indirect costs depends on whether a cost
a. is controllable or non-controllable. b. is variable or fixed. c. can be conveniently and physically traced to a cost object under consideration. d. will increase with changes in levels of activity.