Probably the last account to be listed on a post-closing trial balance would be
a. Income Summary.
b. Retained Earnings.
c. Wages Expense.
d. Wages Payable.
B
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Cobalt Company management has identified the following cost objects:Cost Object 1: The cost of operating the finishing departmentCost Object 2: The cost of operating the factoryCost Object 3: The cost of a particular product made in JuneWith respect to these cost objectives, how would rent paid by the finishing department for storage space be classified? Object 1Object 2Object 3A.DirectDirectDirectB.DirectDirectIndirectC.IndirectIndirectIndirectD.IndirectIndirectDirect
A. Option A B. Option B C. Option C D. Option D
When Dudley files his Chapter 7 petition, he lists the following debts:
a. $25,000 in back child support and alimony. b. $15,000 for liabilities incurred after drinking and driving. c. $10,000 for past-due student loans. d. $5,000 for past-due rent to his landlord. e. $550 for a past-due phone bill. How will each of these debts be treated by the bankruptcy court.
An assembly chart:
A) shows graphically how the product is assembled. B) shows an exploded view of the product. C) lists the operations, including assembly and inspection, necessary to produce the component with the material specified in the bill of material. D) provides detailed instructions on how to perform a given task. E) describes the dimensions and finish of each component.
Consider that you are paying back a fully amortized loan. Which of the following statements is most correct?
A) Later loan payments involve larger amounts of principal repayment. B) The actual loan payments vary from year to year. C) After the last loan payment is made, there is still a large principal repayment remaining. D) Early loan payments include smaller amounts of interest payments. E) None of the above statements are true.