Baksheesh owns a house. In the house, on a tile floor is a throw rug. Most likely to meet the definition of a fixture is
A. the house.
B. the throw rug.
C. the tile floor.
D. none of these choices.
Answer: C
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Entry (4) in the below T-account could represent the cost of property taxes and insurance incurred on the factory. Manufacturing Overhead(2)4,000(7)180,000(3)30,000 (4)80,000 (5)40,000 (6)36,000 190,000 180,000Bal.10,000
Answer the following statement true (T) or false (F)
Valuation is a relevant assertion when auditing premiums or discounts on bonds
a. True b. False Indicate whether the statement is true or false
In the space below, state whether each situation is a deferral or an accrual. ______
a. Depreciation on machinery is $7,200 for the accounting period. ______ b. Interest that has been incurred on a loan but that has not yet been paid or recorded is $675. ______ c. Office supplies of $965 were on hand at the beginning of the period. Purchases of office supplies during the period totaled $640 . At the end of the period, $120 in office supplies remained. ______ d. Commissions amounting to $975 were earned but not yet collected by year end. ______ e. Prepaid Rent had a $2,500 balance prior to adjustment. By year end, 50 percent had expired. ______ f. Federal income taxes for the year were estimated to be $4,680.
Which category would a flexible and externally focused company be called on the competing values framework? Describe and give an example of this type of company.
What will be an ideal response?