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a. True
b. False
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Top management can preserve the autonomy of division managers and encourage an optimal level of internal transactions by
a. selecting performance evaluation measures that are consistent with the achievement of overall corporate goals. b. selecting division managers who are most concerned about their individual performance. c. prescribing transfer prices between segments. d. setting up all organizational units as revenue centers.
In what situations might the use of a simple moving average be appropriate? Provide at least one example (hypothetical or otherwise).
What will be an ideal response?
A company uses the aging of accounts receivable method to estimate its bad debts expense. On December 31 of the current year an aging analysis of accounts receivable revealed the following: Account AgeBalanceEstimated Uncollectible PercentageCurrent (not yet due)$620,0000.5%1-30 days past due270,0002.0%30-60 days past due145,0008.0%61-90 days past due55,00020.0%90-120 days past due32,00050.0%Over 120 days past due18,00070.0%Total$1,140,000?Required:a. Calculate the amount of the Allowance for Doubtful Accounts that should be reported on the current year-end balance sheet.b. Calculate the amount of the Bad Debts Expense that should be reported on the current year's income statement, assuming that the credit balance of the Allowance for Doubtful Accounts on January 1 of the current year
was $41,000 and that accounts receivable written off during the current year totaled $43,200.c. Prepare the adjusting entry to record bad debts expense on December 31 of the current year.d. Show how Accounts Receivable will appear on the current year-end balance sheet as of December 31. What will be an ideal response?
The Prudhoe Bay and BP refinery problems had no effect on BP's stock price
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