The understatement of ending inventories in one period leads to a(n)_____________of cost of goods sold expense in the same period
Fill in the blank(s) with correct word
overstatement
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Organization costs of $15,000 would be treated as follows:
a. Organization Costs is debited for $15,000 and reported under Other Expenses on the Income Statement. b. Each year Amortization Expense is debited for $3,000 and Organization Costs is credited for $3,000. c. Each year, Organization Costs is debited for $3,000 and Accounts Payable is credited for $3,000. d. Each year Amortization Expense is debited for $5,000 and Organization Costs is credited for $5,000. e. Organization costs are divided equally among the incorporators.
Which of the following is true concerning the materials price variance?
A) It is the difference between the actual and standard unit price of an input multiplied by the number of inputs used. B) It is the difference between the actual and standard unit price of an output multiplied by the number of inputs used. C) It is the difference between the actual and standard unit price of an input multiplied by the number of inputs purchased. D) It is the difference between the actual and standard unit price of an output multiplied by the number of inputs purchased. E) None of these are true.
Honesty, justice, and hard work are examples of ____________________, which are ideas that determine how a person acts
Fill in the blank(s) with correct word
Brady West signed a lease with Harold Gomes for a store. The lease contained a term that the tenant would make all repairs
On the first of the month Gomes noticed a leak and gave written notice to Brady in these terms: "You are hereby notified that you are in breach of the lease." One month went by and Brady had not repaired the roof. Gomes wants to evict her. Which of the following is TRUE? A) The landlord can evict Brady because she has had reasonable notice of the breach of the lease. B) The landlord can evict Brady because she specifically agreed in the lease to repair the damage and has not done so. C) The landlord cannot evict Brady because the notice of the breach of the lease was not specific enough. D) The landlord cannot evict Brady because she has not been given a reasonable time to remedy the breach. E) both A and B