Equality, a core American value that strongly influences the attitudes and lifestyles of people, means that:
A. no one should expect to be treated differently from anybody else.
B. hard work, dedication to family, and frugality are moral and right.
C. success comes to anyone who gets an education, works hard, and plays by the rules.
D. every person should stand on his or her own two feet.
Answer: A
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Valley Spa purchased $8700 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 14% promissory note for $8700. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (Use 360 days a year.)
A. Debit Accounts Receivable-Valley Spa $8700; credit Notes Receivable $8700. B. Debit Accounts Receivable-Valley Spa $8903, credit Interest Revenue $203; credit Notes Receivable $8700. C. Debit Bad Debt Expense $8903; credit Accounts Receivable $8903. D. Debit Accounts Receivable $8903; debit Bad Debt Expense $203; credit Notes Receivable $8700. E. Debit Bad Debt Expense $8700; credit Notes Receivable $8700.
The CAPM uses standard deviation to relate an asset's risk relative to the market to the asset's required return
Indicate whether the statement is true or false
Departmental overhead rates may not correctly assign overhead costs due to:
A. overreliance on volume as a basis for allocating overhead costs where products differ regarding the number of units produced, lot size, or complexity of production. B. the high correlation between direct labor-hours and the incurrence of overhead costs. C. the use of direct labor hours in allocating overhead costs to products rather than machine time or quantity of materials used. D. difficulties associated with identifying cost pools for the first stage of the allocation process.
After damaged goods are returned, the supplier issues a(n) ________ memorandum.
Fill in the blank(s) with the appropriate word(s).