Which of the following types of corporations is owned or operated by a government unit?
A) domestic
B) private
C) closed
D) public
D
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For the year ending June 30, 2010, Island Clinical Services mistakenly omitted adjusting entries for $1,200 of supplies that were used, (2 ) unearned revenue of $6,000 that was earned, and (3 ) insurance of $5,000 that expired. What is the combined effect of these errors on (a) revenues, (b) expenses, and (c) net income for the year ended June 30, 2010?
Under the Statutory Close Corporation Supplement to the MBCA, a close corporation must have bylaws on file with the office of the secretary of state or some other public office
a. True b. False Indicate whether the statement is true or false
Omar Industries manufactures two products: Regular and Super. The results of operations for 20x1 follow. Regular Super TotalUnits 10,000 3,700 13,700 Sales revenue$240,000 $740,000 $980,000 Less: Cost of goods sold 180,000 $481,000 661,000 Gross Margin$60,000 $259,000 $319,000 Less: Selling expenses 60,000 134,000 194,000 Operating income (loss)$0 $125,000 $125,000 Fixed manufacturing costs included in cost of goods sold amount to $3 per unit for Regular and $20 per unit for Super. Variable selling expenses are $4 per unit for Regular and $20 per unit for Super; remaining selling amounts are fixed.Disregard the information in the previous question. If Omar Industries eliminates Regular and uses the available capacity to produce and
sell an additional 1,500 units of Super, what would be the impact on operating income? A. $85,000 increase B. $55,000 increase C. $28,000 increase D. $45,000 increase E. None of the answers is correct.
When a consumer's internal psychological process is attitude formation, she is likely to be in the stage of purchase decision in the decision-making process.
Answer the following statement true (T) or false (F)