High Portfolio turnover lowers mutual fund costs
Indicate whether the statement is true or false
F
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When Target had a data breach that resulted in the loss of the personal information of 40 million customers, it ________.
A. sent all customers a gift card to Target stores B. hid the information from its customers C. refunded purchases to customers made during a two-week period D. fired the employee who caused the data breach. E. postponed a campaign focused on Target's corporate citizenship
______ and norms provide sources of ideas, principles, and other ways of thinking that managers use to guide their understanding of the events, issues, and problems in the workplace.
A. Society B. Laws C. Procedures D. Role set members
Frescoand Garcia form a partnership—HVAC Pros. Garcia's capital contribution is $10,000, and Fresco'sis $15,000. The partnership agreement provides that profits are to be shared, with 40 percent for Garcia and 60 percent for Fresco. Later, Garcia
makes a $10,000 loan to the partnership when it needs working capital. When the partnership is dissolved, its assets are $50,000, and its debts are $8,000. How should the assets be distributed?
Carlin and Marley, an accounting firm, provides consulting and tax planning services. For many years, the firm's total administrative cost (currently $270,000) has been allocated to services on this basis of billable hours to clients. A recent analysis found that 55% of the firm's billable hours to clients resulted from tax planning services, while 45% resulted from consulting services.The firm, contemplating a change to activity-based costing, has identified three components of administrative cost, as follows: Staff Support$200,000 In-house computing charges 50,000 Miscellaneous office costs 20,000 Total$270,000 A recent analysis of staff support found a strong correlation with the number of clients served. In contrast, in-house computing and miscellaneous office cost varied
directly with the number of computer hours logged and number of client transactions, respectively. Consulting clients served totaled 35% of the total client base, consumed 30% of the firm's computer hours, and accounted for 20% of the total client transactions.If Carlin and Marley switched from its current accounting method to an activity-based costing system, the amount of administrative cost chargeable to consulting services would: A. decrease by $59,500. B. decrease by $32,500. C. increase by $32,500. D. change by an amount other than those listed. E. change, but the amount cannot be determined based on the information presented.