Which of the following is not one of the four basic principles shared by ethical schools of thought in western culture?
A) accountability
B) privacy
C) responsibility
D) liability
B
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Suffolk Corporation issued $92,000 of 20-year, 6 percent bonds at 98 on one of its semiannual interest dates. The straight-line method of amortization is to be used. The entry to record the bond interest expense on the next interest payment date is:
A) Bond Interest Expense 2,806 Unamortized Bond Discount 46Cash 2760 B) Bond Interest Expense 5,520 Unamortized Bond Discount 520Cash 5000 C) Cash 5,566 Unamortized Bond Discount 5,566 D) Bond Interest Expense 2,760 Cash 2,760
Differentiate between a tactical impasse and a genuine impasse.
What will be an ideal response?
Classifying a cost as either direct or indirect depends upon
A. whether an expenditure is unavoidable because it cannot be changed regardless of any action taken. B. the behavior of the cost in response to volume changes. C. whether the cost is expensed in the period in which it is incurred. D. the cost object to which the cost is being related.
Andover, Inc had a gross margin for the month of February totaling $42,000. They sold 5,000 units during the month at a sales price of $20 per unit. What was the amount of Cost of Goods Sold for the month?
A) $100,000 B) $42,000 C) $58,000 D) none of these