In activity-based costing, product costs are assigned based on links between activities that drive costs and the
production of specific products
a. True
b. False
Indicate whether the statement is true or false
True
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On January 1, 2018, Como Company purchased 45% of the outstanding common shares of the Lite Company for $200,000. The net assets of Lite Company totaled $400,000. The inventory had a book value of $100,000 and a fair value of $120,000. Excess cost attributable to inventory is written off in 2018. During 2018, Lite Company earned $200,000 and declared a dividend of $40,000 for the year.The excess amount paid for Lite Company attributable to inventory is
A. $9,000. B. $20,000. C. $11,000. D. $22,000.
Purchase decisions are based on how consumers perceive prices and what they consider the current actual price to be–not the marketer's stated price
Indicate whether the statement is true or false
Which of the following is a business event that is not considered a recordable transaction?
a. A company receives a product previously ordered. b. A company pays an employee for work performed. c. A customer inquires about the availability of a service. d. A customer purchases a service.
How much would be in your savings account in 7 years after depositing $200 today if the bank pays 10 percent per year?