If over- or underapplied factory overhead would materially distort net income if the entire amount was charged to Cost of Goods Sold, it should be:
a. Carried forward in the overhead control account from year to year.
b. Eliminated by changing the predetermined factory overhead rate in subsequent years.
c. Apportioned among the work in process inventory, the finished goods inventory, and the cost of goods sold.
d. Treated as a special gain or loss occurring during the year.
c
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Dividends declared and paid reduce a company's retained earnings balance
a. True b. False Indicate whether the statement is true or false
When will bonds sell at a discount?
a. The credit standing of the issuing company is not as good as other companies in a similar line of business. b. The face rate of interest is less than the market rate of interest at the time of issue. c. The face rate of interest is more than the market rate of interest at the time of issue. d. The issuing company will be able to retire the bonds at less than face at maturity.
The going-concern evaluation must be based on separate procedures that test the client's ability to continue as a going concern
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of an organizational factor that could impact political behavior in organizations?
A. the personality of the manager B. the stress level of the CEO C. the lack of bonus money D. personal desire for power