For a business to be successful, a competitive advantage must be ________.
A. expensive
B. legal
C. sustainable
D. profitable
Answer: C
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The following is the adjusted trial balance as of December 31, 2016 of Mason Photography:
Account Debit Credit Cash $1,700 Accounts Receivable 8,500 Supplies 100 Equipment 7,500 Accumulated Depreciation—Equipment $2,000 Accounts Payable What will be an ideal response
The cash conversion cycle refers to the:
A. length of time from the payment for the purchase of raw materials to manufacture a product until the collection of accounts receivable associated with the sale of the product. B. average length of time between the cash payment for the purchase of raw materials and labor and their utilization in the manufacturing process. C. amount of time a product remains in inventory in various stages of completion. D. amount of time it takes to collect cash following a sale. E. length of time from the purchase of raw materials to manufacture a product until the payment for the raw materials is made.
Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours 50,000Total fixed manufacturing overhead cost$285,000Variable manufacturing overhead per direct labor-hour$3.80 Recently, Job P513 was completed with the following characteristics: Number of units in the job 10Total direct labor-hours 20Direct materials$710Direct labor cost$500The predetermined overhead rate is closest to:
A. $9.50 per direct labor-hour B. $3.80 per direct labor-hour C. $13.30 per direct labor-hour D. $5.70 per direct labor-hour
Which of the following statements about the movie industry is not true?
A) Over 300 million Americans were expected to watch movies online in 2015. B) Online movie distribution is not dominated by a single distributor. C) Of the digital formats, the most revenue is generated by subscription streaming. D) DVD sales make up the largest share of movie revenues.