Which of the following statements is false regarding how the cash flow effects of the changes in the equipment and accumulated depreciation accounts would be reported on a statement of cash flows if the indirect method is used to prepare the operating activities section?
a. Cash proceeds from the sale of the equipment would be reported as a cash inflow in the investing activities section.
b. The cash paid to purchase equipment would be reported as a cash outflow in the investing activities section
c. Depreciation expense would be added to net income in the operating activities section.
d. A loss on the sale of the equipment would be subtracted from net income in the operating activities section
d
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______ is defined as establishing goals, monitoring performance, comparing it with goals, and taking corrective action as needed.
A. Measuring B. Leading C. Organizing D. Controlling E. Planning
The price relative is computed by dividing
A. a base-period unit price by a current unit price and multiplying the result by 100. B. a current unit price by a base-period unit price and multiplying the result by 100. C. a current unit price by a base-period unit price and dividing the result by 100. D. current price by quantity.
Rose Corporation sells backpacks. Variable costs for this product are $30 per unit, and the sales price per unit is $50 per unit. Total fixed costs amount to $100,000. How many backpacks does Rose need to sell to achieve a desired profit of $60,000?
A. 2,000 units B. 5,000 units C. 8,000 units D. 5,333 units
Which of the following is accurate regarding a federal agency's Statement of Net Costs?
A. Both the statements "Costs are reported within the broad categories of current, capital, and debt service" and "It is similar in presentation to the GASB government-wide Statement of Activities in that earned revenues are subtracted from costs to determine the net cost of government services" are accurate. B. Neither the statement "Costs are reported within the broad categories of current, capital, and debt service" nor "It is similar in presentation to the GASB government-wide Statement of Activities in that earned revenues are subtracted from costs to determine the net cost of government services" is accurate. C. It is similar in presentation to the GASB government-wide Statement of Activities in that earned revenues are subtracted from costs to determine the net cost of government services. D. Costs are reported within the broad categories of current, capital, and debt service.