The use of first-person pronouns (I or we) are generally acceptable in a formal report

Indicate whether the statement is true or false


F

Business

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The Marino Company has provided you the following information pertaining to its defined benefit pension plan that was adopted on January 1, 2018:The service cost was $950,000 during 2018 and $1,045,000 during 2019.  The prior service cost amortization each year was $290,000.  The contribution to the pension plan was $1,500,000 on December 31, 2018 and $1,800,000 on December 31, 2019.  The actuarially determined discount rate and the expected return on plan assets was 10%.  The actual return on plan assets was 9.5%.  Retirement benefits pertaining to years of service prior to 2018 were granted to the employees. The prior service cost is being amortized over the remaining ten-year life of the employees.  What is the pension expense for the year ended December 31, 2018?

A. $1,380,000 B. $950,000 C. $1,240,000 D. $1,530,000

Business

When merchandise is returned under the perpetual inventory system, the buyer would credit

A) Merchandise Inventory B) Purchases Returns and Allowances C) Accounts Payable D) depending on the inventory system used.

Business

How can the costs involved in working virtually be considered both an advantage and a disadvantage?

What will be an ideal response?

Business

The risk to a U.S. importer with foreign-currency-denominated accounts payable is that the dollar will depreciate

Indicate whether the statement is true or false

Business