Absorption costing is more useful than variable costing in determining a company's break-even point

Indicate whether the statement is true or false


F

Business

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Martin Company decided to reward its employees with a bonus of 7% on annual net income, after deducting the bonus. The company reported net income of $513,600 before the calculation of the bonus. Prepare the journal entry to accrue employee bonus expense. Omit explanation.

What will be an ideal response?

Business

Unlike Facebook, LinkedIn is primarily intended to be a one-dimensional professional networking tool

Indicate whether the statement is true or false.

Business

________ refers to the sale of two or more goods or services as a single package for one price

A) Two-part pricing B) Captive pricing C) Price bundling D) List pricing E) Everyday low pricing

Business

Retained earnings:

A. Can only be appropriated by setting aside a cash fund. B. Represent an amount of cash available to pay shareholders. C. Are never adjusted for anything other than net income or dividends. D. Represents the amount shareholders are guaranteed to receive upon company liquidation. E. Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.

Business