The single-step and multistep income statements result in different net income figures
Indicate whether the statement is true or false
F
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Research on the effects of participative management (PM) on employees' performance and satisfaction indicates that
A. PM has no effect on either. B. PM has a small positive effect on both. C. PM has a large effect on satisfaction, but a small effect on performance. D. PM has a large positive effect on both. E. PM has a large effect on performance, but no significant effect on satisfaction.
Accounting policies that result in the fastest reporting of income are the most conservative
Indicate whether the statement is true or false
The following information was gathered for Company J, a manufacturing company with three departments, A, B, and C:Manufacturing supplies cost is expected to be $300,000. Possible cost drivers are direct labor hours, direct materials cost, and number of units completed and sold. The three departments have varying amounts for these items. Department ADepartment BDepartment CDirect labor hours 15,000 40,000 45,000 Direct materials cost$500,000 $2,500,000 $2,000,000 # of units expected to be completed and sold 80,000 30,000 40,000 Based on this information, indicate whether each of the following statements is true or false.If number of units completed and sold is selected as the cost driver, the allocation rate for manufacturing supplies cost would be $2 per unit. If
direct labor hours is selected as the cost driver, the manufacturing supplies cost allocated to Department B would be $100,000. The manufacturing supplies cost allocated to Department C would be unaffected by the choice of the cost driver. If the amount of bonuses to department managers is based on income after all expenses, the manager for Department A would prefer that direct materials cost be selected as the cost driver. If the amount of bonuses to department managers is based on income after all expenses, the manager for Department B would prefer that direct labor hours be selected as the cost driver. What will be an ideal response?
Which of the following is true of the IMF's SDR?
A. It cannot be added to the member states' foreign currency. B. Its value is set daily using a set of four major currencies. C. All the four currencies are given equal weight while determining the value of the SDR. D. One of the currencies used for calculating the value of SDR is Russian Ruble.