Paying for one year of rent in advance causes one asset to increase and another asset to decrease, so there is no effect on the accounting equation.
Answer the following statement true (T) or false (F)
True
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Landor Appliance Corporation makes and sells electric fans. Each fan regularly sells for $42. The following cost data per fan is based on a full capacity of 150,000 fans produced each period. Direct materials$8Direct labor$9Manufacturing overhead (70% variable and 30% unavoidable fixed)$10A special order has been received by Landor for a sale of 25,000 fans to an overseas customer. The only selling costs that would be incurred on this order would be $4 per fan for shipping. Landor is now selling 120,000 fans through regular channels each period. Assume that direct labor is an avoidable cost in this decision. What should Landor use as a minimum selling price per fan in negotiating a price for this special order?
A. $31 per fan B. $28 per fan C. $27 per fan D. $24 per fan
Methods used to maintain an audit trail in a computerized environment include all of the following except
a. transaction logs b. transaction listings c. data encryption d. log of automatic transactions
Which of the following is an example of a not-for-profit organization that would use marketing principles?
A) a fast-food restaurant B) a manufacturer of bicycles C) a software developer D) an amusement park E) the Red Cross
Which of the four schools of thought believes that workers and employers have multiple, competing interests that center primarily around the division of profits between them?
A. Mainstream economics B. Human resource management C. Industrial relations D. Critical industrial relations