PMSIs financing statements can be filed after annexation and still be valid
Indicate whether the statement is true or false
True
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Projected misstatements are developed by extrapolation from the misstatements in sample items to the population
a. True b. False Indicate whether the statement is true or false
All of the following are features of a standard cost system except:
a. Standards change as conditions change. b. Variances may be determined more often than monthly to allow for more timely action. c. Standards are based on estimates. d. The company determines the actual cost of manufacturing a unit.
Housholder Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year. Estimated total fixed manufacturing overhead from thebeginning of the year$310,000 Estimated activity level from the beginning of the year 20,000machine-hoursActual total fixed manufacturing overhead$338,000 Actual activity level 18,300machine-hoursThe predetermined overhead rate is closest to:
A. $16.90 B. $16.94 C. $18.47 D. $15.50
A new or an existing company may be financed by:
a. debt only by law b. U.S. Treasury bonds c. equity only by law d. debt and equity e. debt and equity and U.S. Treasury bonds