Connor's supervisor asks him to analyze whether their plan to start web-based retailing can be implemented as proposed. His supervisor is asking Connor for a(n) __________.
A. feasibility report
B. progress report
C. compliance report
D. investigation report
Ans: A. feasibility report
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Accumulated depreciation is classified as a(n)
a. contra-expense account. b. expense account. c. contra-asset account. d. liability account.
A stock dividend will cause an increase in total contributed capital at the date the dividend is declared
Indicate whether the statement is true or false
What is their cost for holding all types of inventory if they order optimally?
Kushie's Coffee in Bangalore is a quaint establishment nestled near MG Road in the central business district. It serves coffee and fruit cake to a clientele that has been enjoying these products for over fifty years. The demand for coffee beans is 6600 cases per year (each case has 24 ten-pound bags). It would be disastrous for them to run out of coffee, so they keep a safety stock of 30 cases. The cases cost $4800 and it costs $5 per case to order coffee. As coffee is a perishable product, the holding cost is fairly high at $40/case/year. The lead time to receive an order is seven days. Kushie's is open 300 days a year.
An increase in the Inventory account from $10,000 at the beginning of the year to $15,000 at the end of the year would be shown on the statement of cash flows prepared under the indirect method as:
A. an addition to net income of $15,000 in order to arrive at net cash provided by operating activities. B. an addition to net income of $5,000 in order to arrive at net cash provided by operating activities. C. a deduction from net income of $10,000 in order to arrive at net cash provided by operating activities. D. a deduction from net income of $5,000 in order to arrive at net cash provided by operating activities.