Works of art and historical treasures purchased by the general fund should be reported as:I. an expenditure in the general fund. II. assets in the government-wide financial statements.
A. II only.
B. I only.
C. Both I and II.
D. Neither I nor II.
Answer: C
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Two approaches for generating alternative solutions by redefining the problem are nonspecific compensation and cutting the costs for compliance. How do these two differ?
What will be an ideal response?
Anderson Co makes and uses 5,000 components each year in its manufacturing operations. An outside supplier has offered to supply the components to Anderson at $66 per unit. Anderson's production costs are as follows: Direct materials $ 8 Direct labor 32 Variable overhead 12 Fixed overhead (based on normal capacity) 34 If Anderson accepts the order, $8 of fixed overhead per unit will be
eliminated. What is the relevant cost to produce one unit? a. $86 b. $52 c. $78 d. $60
With respect to fixed costs, CVP analysis assumes total fixed costs
a. per unit remain constant as volume changes. b. remain constant from one period to the next. c. vary directly with volume. d. remain constant across changes in volume.
To minimize patent risk, an entrepreneur should seek a patent attorney who has experience in their product line.
Answer the following statement true (T) or false (F)