Master data, used in an enterprise resource planning system, changes with every transaction
Indicate whether the statement is true or false
FALSE
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If bonds of $1,000,000 with unamortized discount of $10,000 are redeemed at 98, the gain on redemption of bonds is$10,000
a. True b. False Indicate whether the statement is true or false
Holmstrom Corporation has provided the following data concerning last month's operations. Direct materials$14,000Direct labor cost$58,000Manufacturing overhead applied to Work in Process$79,000 BeginningEndingWork in process inventory$47,000 $53,000 Finished goods inventory$41,000 $42,000 How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?
A. $145,000 B. $186,000 C. $144,000 D. $138,000
Sixty percent of the student body at UTC is from the state of Tennessee (T), 30% percent are from other states (O), and the remainder are international students (I). Twenty percent of students from Tennessee live in the dormitories, whereas, 50% of students from other states live in the dormitories. Finally, 80% of the international students live in the dormitories. a.What percentage of UTC students live in the dormitories?b.Given that a student lives in the dormitory, what is the probability that she/he is an international student?c.Given that a student lives in the dormitory, what is the probability that she/he is from Tennessee?
What will be an ideal response?
One of the accounting concepts upon which deferrals and accruals are based is
A) matching B) cost C) price-level adjustment D) conservatism