A retailer's average monthly sales are $50,000 . If January's monthly sales are $60,000, January's sales index is 110
Indicate whether the statement is true or false
False
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The price variance indicates:
a. the difference between actual and standard unit price multiplied by the inputs used. b. the difference between actual and standard unit price multiplied by the inputs planned. c. the difference between actual and standard hourly rate multiplied by the inputs used. d. the difference between actual and standard hourly rate multiplied by the inputs planned. e. None of the answers are correct.
A double-entry accounting system is an accounting system:
A. That allows total credits to be greater than total debits. B. That records the effect of each transaction in at least two accounts with equal debits and credits. C. In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits. D. That allows total debits to be greater than total credits. E. That records each transaction twice.
If a contingency is remote, the company does not need to record a liability and does not need to disclose it in the notes to the financial statements
Indicate whether the statement is true or false
The ________ model of withdrawal argues that the various withdrawal behaviors negatively correlate with one another-that doing one means you are less likely to do another.
A. nominal B. normative C. independent forms D. progression E. compensatory forms