An unsecured bond is the same as a
A) debenture bond.
B) zero coupon bond.
C) term bond.
D) bond indenture.
A
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At the beginning of the year, Barcroft Co. estimated that its total annual fixed overhead costs would amount to $25,000. Further, Barcroft estimated that its volume of production would be 2,000 units of product. Based on these estimates, Barcroft computed a predetermined overhead rate that was used to allocate overhead costs to the products made during the year. As predicted, actual fixed overhead costs did amount to $25,000. However, actual volume of production amounted to 2,200 units of product. Based on this information alone:
A. Products were overcosted during the year. B. Products were costed accurately during the year. C. Products were undercosted during the year. D. The answer cannot be determined from the information provided.
An example of a pricing objective is to
A) ignore long-term pricing strategies in favor of short-term profits. B) increase market share irrespective of the cost of a product. C) maintain a price that is always under that of the competition. D) maintain a minimum rate of return.
The Tulip Company uses the percent of receivables method of accounting for uncollectible accounts receivable, and a perpetual inventory system. As of January 1, its net accounts receivable totaled $485,000 (Accounts Receivable $500,000 less a $15,000 Allowance for Doubtful Accounts). During the current year, the following transactions occurred. 1)Merchandise costing $2,400,000 was sold on account for $4,000,000. 2)The company collected $3,880,000 from customers on account.3)$20,000 of accounts receivable were deemed uncollectible and written off.4)$3,000 of accounts receivable previously written off as uncollectible were recovered.5)At year-end, Lily Company estimates that 3% of its accounts receivable are uncollectible.Prepare journal entries to record these transactions.
What will be an ideal response?
Unlike the AFL, the CIO's attitude toward women in the union was:
A. That they should be encouraged to join the union and allowed positions of leadership. B. That they should be excluded from the union. C. That they should be encouraged to join but relegated to a minor role in leading the union. D. That they should not be allowed to join but their support would be welcomed.