The human relations approach to organizational behavior discourages the practice of making universal assumptions about people.
Answer the following statement true (T) or false (F)
False
The contingency approach to organizational behavior discourages the practice of making universal assumptions about people.
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FASB's concept of comprehensive income
a. excludes transactions that involve the payment of dividends. b. requires that all transactions must be shown on the income statement. c. has a primary drawback because it allows management to manipulate the income figure to a certain extent. d. allows items that are not necessarily under management's control, such as natural disasters, to be shown as an adjustment of retained earnings.
Discussing the upsides and downsides of buying a Mac over a PC is known as a __________ presentation.
a. pro-con b. compare-contrast c. spatial d. classification
Which of the following statements is true?
a. A company must use the FIFO cost flow assumption for taxes as well as for financial accounting and reporting. b. A company may use FIFO for inventory valuation purposes on the balance sheet provided that LIFO cost of goods sold is reported on the income statement. c. Application of LIFO for financial reporting purposes must strictly follow IRS regulations relating to LIFO. d. LIFO is the only inventory method that must be used for financial reporting purposes if used for tax purposes.
Daget Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $364,140. At the end of the year, actual direct labor-hours for the year were 24,000 hours, manufacturing overhead for the year was overapplied by $8,060, and the actual manufacturing overhead was $359,140. The predetermined overhead rate for the year must have been closest to:
A. $15.43 per direct labor-hour B. $14.96 per direct labor-hour C. $15.17 per direct labor-hour D. $15.30 per direct labor-hour