A down payment is a sum of money paid by the buyer as an initial part of the purchase
price and is completely forfeited if the contract is breached.
Indicate whether the statement is true or false
FALSE
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A carefully developed financial plan should provide for saving a portion of ____________ for deferred, future spending. ?
A. retirement funds B. investment funds C. current income D. future income E. tangible assets
Tulip Corp has $1,000,000, 6%, nonconvertible bonds due in 2017 and $1,500,000, 3%, convertible bonds due in 2018. The basic earnings per share are $1.25 and the diluted earnings per share are $1.18. Based upon this information, Tulip must disclose
A) basic earnings per share because the convertible bonds are not dilutive. B) basic earnings per share and dilutive earnings per share because the convertible bonds are dilutive. C) basic earnings per share, and the convertible bonds must be disclosed in the stockholders' equity section of the balance sheet. D) basic earnings per share and dilutive earnings per share, and the convertible bonds must be disclosed in the stockholders' equity section of the balance sheet.
______ communication is the ability to give and exchange information, ideas, and processes verbally, either one-on-one or as a group.
A. Oral B. Nonverbal C. Written D. Electronic
Underfoot Products uses standard costing. The following information about overhead was generated during May: Standard variable overhead rate $2 per machine hour Standard fixed overhead rate $1 per machine hour Actual variable overhead costs $390,000 Actual fixed overhead costs $175,000 Budgeted fixed overhead costs $190,000 Standard machine hours per unit produced 10 Good units produced 18,000
Actual machine hours 200,000 Using the above information provided for Underfoot Products, compute the variable overhead efficiency variance. A) $10,000 (F) B) $10,000 (U) C) $40,000 (F) D) $40,000 (U)