Buying and selling goods and services are examples of operating activities
Indicate whether the statement is true or false
T
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Sales reps might have better insight into developing trends than any other group, and forecasting might give them greater confidence in their sales quotas and more incentive to achieve them
Indicate whether the statement is true or false
The materials quantity variance, in a standard cost system, is the:
a. Difference between the actual and standard quantities. b. Difference between the actual and standard quantities multiplied by the actual unit price. c. Difference between the actual quantity used and the actual quantity purchased multiplied by the standard unit price. d. Difference between the actual and standard quantities multiplied by the standard unit price.
The financial statements of Mannassass Corporation for 2014 and 2015 contained the following errors: 2014 2015 Ending Inventory $14,000 overstated $20,000 understated Rent Expense $4,800 understated $6,600 overstated Assuming that none of the errors were detected or corrected, by what amount will 2014 operating income be overstated or understated?
a. $9,200 overstated b. $9,200 understated c. $18,800 understated d. $18,800 overstated
Another name for a social loafer is a(n) ______.
a. free loader b. duty dodger c. social member d. disengaged distractor