The ‘R' in REA stands for
a. ratios
b. relationships
c. resources
d. reserves
C
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How does the text define philanthropy?
a. any voluntary action that assists a nonprofit organization or people in need b. the donation of time to assist a nonprofit organization or people in need c. the donation of money or property to assist a nonprofit organization or people in need d. the possession of goodwill toward those in a more disadvantaged position
Debits in double-entry bookkeeping are used to record:
a. increases in liabilities b. increases in owners’ equity c. increases in assets d. decreases in assets e. decreases in net income
According to a recent Gallup study, companies with the most engaged workers outperformed those with the least engaged workers on profitability, productivity, and lower turnover. Which of the following processes is not likely to be an important factor in assuring this result?
A. developing B. engaging C. hiring D. retaining
Fuson Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit$118Budgeted unit sales (all on credit): October 9,600 November 10,100 December 13,700 January 11,300 Raw materials requirement per unit of output 3poundsRaw materials cost$4.00per poundDirect labor requirement per unit of output 2.7direct labor-hoursDirect labor wage rate$23.00per direct labor-hourPredetermined overhead rate (all variable)$12.00per direct labor-hourCredit sales are collected:30% in the month of the sale70% in the following monthRaw materials purchases are paid:30% in the month of purchase70% in the following monthThe ending finished goods inventory should equal
10% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.The budgeted accounts receivable balance at the end of November is closest to: A. $1,191,800 B. $357,540 C. $834,260 D. $795,000