If a fast food restaurant has a box of toilet tissue with 100 rolls stored with its paper cups, the box
of toilet tissue would be classified as ________ inventory and the paper cups would be classified
as ________ inventory.
A) maintenance, repair, and operating; raw materials
B) maintenance, repair, and operating; work in progress
C) finished goods; work in progress
D) finished goods; raw materials
A
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What is human capital?
A. the development of a pool of applicants for jobs in an organization B. the credits that employees can spend on the benefits they desire C. the strategic value of employee knowledge and abilities D. the total amount of wages and salaries that a company pays annually E. the total value of the benefits package provided to an employee
In accrual accounting, net income is defined as
A) Revenues ? Expenses + Gains + Losses B) Revenues ? Expenses C) Revenues ? Expenses + Gains ? Losses D) increase in net assets from nonowner transactions
Which one of the following is false regarding the adequacy of disclosures in a financial statement audit?
a. The auditor should consider matters for disclosure while gathering evidence during the course of the audit, not just at the end of the audit. b. One of the key disclosures is a summary of significant accounting policies used by the company. c. Disclosures should be limited to only checklist items. d. The auditor's report does not specifically cover the statements made by management in the "Management Discussion and Analysis" (MD&A) section of the annual report.
Which of the following information do you present with a Gantt chart? Select all that apply.
a. a list of tasks to be completed b. the level of project feasibility c. the duration (e.g., number of days) for each task d. the amount of budget to be spent for each task