Which of the following costs would not be accounted for in a company's recordkeeping system?
a. an unexpired cost
b. an expired cost
c. a product cost
d. an opportunity cost
D
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Name and discuss the three different categories for federal agency actions as classified under the National Environmental Policy Act. Provide an example for each.
What will be an ideal response?
The Bourbon Street Ice Cream Company discovers that depreciation expense was overstated last year. How should this discovery be reported in the current year?
A) as a reduction in the current year's depreciation expense B) as an increase to the retained earnings beginning balance C) as a miscellaneous item in the Other Revenue/Expense section of the income statement D) as a footnote only to the current year's financial statements
United Insurance Company specializes in term life insurance contracts. Cash collection experience shows that 30 percent of billed premiums are collected in the month before they are due, 60 percent are collected in the month they are due, and 6 percent are collected in the month following their due date. Four percent of the billed premiums are collected late (in the second month following their
due date). Total billing notices in January were $50,000; in February, $60,000; in March, $66,000; in April, $65,000; in May, $60,000; and in June, $70,000 . How much cash does the company expect to collect in May? a. $63,540 b. $66,750 c. $60,000 d. $56,000
Choose and design graphics to emphasize important ideas and a major theme and to match _____________
a. the organization's mission statement b. your audience's needs c. what others have already said d. the room's décor