Many off-balance-sheet financings fall into one of two categories that accounting typically does not recognize as liabilities: executory contracts and contingent obligations
Indicate whether the statement is true or false
T
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To effectively control materials, a business must maintain:
a. Limited access. b. Combination of duties. c. Safety stock. d. None of these are correct.
A company produces computer chips that go through two departments, department A1 and department B2, before they are complete. Expected costs and activities for the two departments are shown below. Departmental overhead rates are based on machine hours in department A1 and direct labor hours in department B2. Therefore, the overhead rates for department A1 and department B2 are $3.62 per machine hour and $5.73 per direct labor hour, respectively. Department A1Department B2Machine hours 40,000MH 30,000MHDirect labor hours 36,200DLH 28,650DLHOverhead costs$144,800 $171,900
Answer the following statement true (T) or false (F)
To compound $100 quarterly for 20 years at 8%, we must use
A) 10 periods at 4%. B) 40 periods at 4%. C) 80 periods at 2%. D) 5 periods at 12%.
Gayla tells Franco that she will pay him $50 to haul the trimmed tree limbs and other lawn debris from her property. Franco's acceptance is complete A) as soon as he says he will do the job
B) once he starts to work. C) only after he hauls away the debris. D) when he hears the offer.