The costs of nonconformance are made up of
A) prevention costs and appraisal costs.
B) internal failure costs and external failure costs.
C) vendor performance and customer satisfaction.
D) product design and production performance.
B
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A billing system that can be used when there is little or no delay between the receipt of the customer order and the shipment of the goods is a:
a. post-billing system b. open-item system c. balance-forward system d. pre-billing system
When a company declares a stock dividend, which of the following occurs?
a. A liability is created. b. Retained earnings is reduced. c. Stockholders' equity is decreased. d. The financing section of the statement of cash flows is decreased.
Amortization is:
A. The process of allocating the cost of natural resources to periods when they are consumed. B. The systematic allocation of the cost of an intangible asset to expense over its estimated useful life. C. Also called depletion. D. The process of allocating to expense the cost of a plant asset to the accounting periods benefiting from its use. E. An accelerated form of expensing an asset's cost.
A corporation has 50,000 shares of $25 par value stock outstanding that has a current market value of $120. If the corporation issues a 5-for-1 stock split, the par value of the stock will be:
A) $5 B) $60 C) unchanged D) $24