[The following information applies to the questions displayed below.]On January 1, Year 1, Echols Company borrowed $100,000 cash from Sun Bank by issuing a 5-year, 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, Year 1. The annual payment on the loan equals $25,045.65.Which of the following shows how the borrowing of cash from Sun Bank on January 1, Year 1, affects the elements of the financial statements? Assets=Liab.+Stk.EquityRev.?Exp.=Net Inc.Stmt. ofCash FlowA.+ + NANA NA NA+IAB.NA NA NANA + ??IAC.? + NANA + ??FAD.+ + NANA NA NA+FA
A. Option A
B. Option B
C. Option C
D. Option D
Answer: D
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Aviatrix Avionics makes three types of radios for small aircraft—Model A, Model B, and Model C. The manufacturing operations are mechanized, and there is no direct labor. Manufacturing overhead costs are significant, and Aviatrix has adopted an activity-based costing system. Direct materials costs per unit for each model are as follows:
Model A $28
Model B $30
Model C $38
Aviatrix has three activities—assembly, materials management, and testing. The cost driver for assembly is machine hours. The cost driver for materials management is the number of parts, and the cost driver for testing is the number of units of product. Total costs and production volumes for the year were estimated as follows:
The Model A radio requires 12 parts to construct and 18 machine hours of processing. What is the manufacturing cost to make one unit of Model A? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
A) $167
B) $55
C) $145
D) $173
Regarding the separation of corporate ownership and management, which of the following is a true statement?
A) The corporate officers elect the board of directors. B) The corporation runs better with day-to-day input from stockholders. C) None of the stockholders have the ability to manage the business of the corporation. D) Stockholders own the business, but a board of directors appoints corporate officers to manage the business.
Which of the following is NOT a step in the forecasting process?
A) Determine the use of the forecast. B) Eliminate any assumptions. C) Determine the time horizon of the forecast. D) Select the forecasting model. E) Validate and implement the results.
The interview is a valuable time to explore key human-computer interaction concerns
Indicate whether the statement is true or false