Which of the following statements is true of the economic environment of a business?
A. It is affected by customer satisfaction.
B. It reduces the hassles associated with acquiring manpower.
C. It is affected by corruption.
D. It prevents customers from turning into loyal advocates.
Answer: C
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All of the following could be included in the cost of a product located in the final production department of a multi-step process except:
a. The costs of materials, labor and overhead identifiable with that department. b. Logistics (product fulfilment) costs. c. The costs of service departments that have been allocated to production departments. d. The costs of prior production departments.
Effective January 2, 2014, Moldaur Co adopted the accounting principle of expensing advertising and promotion costs as they are incurred. Previously, advertising and promotion costs applicable to future periods were recorded in prepaid expenses. Moldaur can justify the change, which was made for both financial statement and income tax reporting purposes. Moldaur's prepaid advertising and
promotion costs totaled $250,000 at December 31 . 2013 . Assume that the income tax rate is 40 percent for 2013 and 2014 . The adjustment for the effect of the change in accounting principle should result in a net charge against income in the income statement for 2014 of a. $0. b. $100,000. c. $150,000. d. $250,000.
Chartists advocate that
A) history repeats itself. B) patterns appear that are very clear and distinctive. C) formations are less important than the direction of the latest price movement. D) a breakout below a support line is a buy signal.
Sovereign immunity provides that our court system cannot be used to right injustices in other countries
Indicate whether the statement is true or false