Income taxes for financial accounting purposes are apportioned to each of the following items except
A) other comprehensive income.
B) discontinued operations.
C) other revenues and expenses.
D) prior period adjustments.
C
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Answer the following statements true (T) or false (F)
1. When using MBO, managers should meet about once a year, either informally or formally, to review progress on meeting objectives. 2. Every five years, the upper-level managers of ABC Technology meet to develop a new large-scale action plan that will set the direction for the company for the next five years. In that meeting the managers work on developing a strategy. 3. The upper-level managers of Deluxe Coffee are meeting to discuss the company's long-range goals and vision. Like any organization, Deluxe Coffee should adopt planning and strategic management for just two reasons: (1) to provide direction and momentum and (2) to encourage retention of high-value employees. 4. When Holiday Inn Express stated that the organization strives to "be the primary source of hospitality in the communities" it serves by providing its customers "the best possible experience and by being good neighbors," it is stating its code of ethics.
Jennifer Cakes places a coupon in each box of its product. Customers may send in five coupons and $3, and the company will send them a recipe book. Sufficient books were purchased at a cost of $5 each. A total of 400,000 boxes of product were sold in 2016. It was estimated that 6% of the coupons would be redeemed. During 2016, 8,000 coupons were redeemed. Which entry should be made at December
31, 2016? A) ?Premium Expense 6,400Estimated Premium Claims Outstanding 6,400? B) ?Premium Expense 16,000Estimated Premium Claims Outstanding 16,000? C) ?Premium Expense 6,400Inventory of Premiums 6,400? D) ?Premium Expense 9,600Estimated Premium Claims Outstanding 9,600
Because agents are compensated only when they sell, based on a negotiated commission rate, the channel costs become fixed costs rather than variable
Indicate whether the statement is true or false
Pepper Department store allocates its service department expenses to its various operating (sales) departments. The following data is available for its service departments:ExpenseBasis for allocation Amount RentSquare feet of floor space $24,000 AdvertisingAmount of dollar sales $30,000 AdministrativeNumber of employees $45,000 The following information is available for its three operating (sales) departments: Department Square Feet Dollar Sales Number of employees A 3,000 $280,000 6 B 3,400 $300,000 8 C 3,600 $420,000 10 Totals 10,000 $1,000,000 24 What is the total advertising expense allocated to Department B?
A. $30,000. B. $12,500. C. $ 9,000. D. $7,500. E. $10,800.