You own three November crude oil futures contracts. What is the settlement value of those contracts at the end day?ContractOpenHighLowCloseNov, Crude oil, 1,000 bbls. $ and cents/bbl 120.7 122.1 119.8 121.20
A. $416,500
B. $447,000
C. $376,400
D. $356,200
E. $363,600
Answer: E
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If average accounts receivable is $35,000 and net sales total $100,000, what is the receivables turnover?
A) 0.3 times B) 0.4 times C) 2.9 times D) 126 times
Harriet, Mickey, and Zack decide to liquidate their partnership. All assets are sold and the liabilities are paid. Following these transactions, the capital balances and profit and loss percentages are as follows: Harriet, $27,000 and 30%; Mickey, $(12,000 ) and 40%; Zack, $43,000 and 30%. Mickey is unable to contribute any assets to reduce the deficit. How much cash will Harriet receive as a
results of the partnership liquidation? A) $27,000 B) $21,000 C) $23,400 D) $15,000
Normal costing:
a. determines unit cost by adding direct materials, direct labor and actual overhead. b. determines unit cost by adding direct materials, direct labor and estimated overhead. c. determines unit cost by adding direct materials, direct labor and underapplied overhead. d. determines unit cost by adding direct materials, direct labor and subtracting overapplied overhead. e. None of the answers are correct.
Michelle is preparing an outline to help her write a report to her supervisor about her recent attendance at a technology symposium. Which of the following should she do?
A) Divide the main topic into at least ten major components. B) Break each major component into at least two subpoints. C) Ask her supervisor what the title of the report should be. D) Don't worry if some of the components overlap in content.