Which of the following categories of expenses is subject to immediate recognition on the income statement?
a. Repairs and maintenance expense incurred on production equipment of a manufacturer
b. The salary of the company president
c. The salary of the production foreman
d. Utilities expense for the production line of a manufacturer
B
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If the goods delivered by the seller do not conform to the contract, ________.
A. the buyer can pay for the units accepted at a price lower than the price per unit provided in the contract B. the buyer cannot reject an installment delivery even if the nonconformity substantially affects the value of that delivery C. the buyer can accept any commercial units and reject the rest D. the buyer can accept only part of a commercial unit and reject the rest
A privity relationship means that:
A. A party has a contractual obligation B. A party may sue if fraud has taken place C. A party's financial liability is limited D. A party may be a user of the financial statements
Which of the following statements is false with regard to the use of unsolicited applications?
A. Unsolicited applications are used by individuals who wish to apply for a particular job without knowing whether or not an opening actually exists. B. This recruiting source does not characteristically produce a high number of acceptable applicants. C. Nearly every organization uses this recruiting source extensively. D. Some employees who use unsolicited applications are very competent employees.
Many firms are concluding that large, centralized manufacturing facilities in low-cost countries with poorly trained workers are not sustainable
Indicate whether the statement is true or false