Package elements that can be referenced from outside the package are considered ____.
A. public
B. overloaded
C. one time only procedures
D. private
Answer: A
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Illustrate with examples how cost definitions are independent and context sensitive. In other words, indicate how a cost can be classified as fixed or variable and direct or indirect, depending on the situation.
What will be an ideal response?
Mohr Company purchases a machine at the beginning of the year at a cost of $28,000. The machine is depreciated using the units-of-production method. The company estimates it will use the machine for 5 years, during which time it anticipates producing 52,000 units. The machine is estimated to have a $2000 salvage value. The company produces 9400 units in year 1 and 6400 units in year 2. Depreciation expense in year 2 is:
A. $2000. B. $16,800. C. $11,200. D. $3200. E. $5200.
A collection of companies decides to work together for a while to provide service for what they see as a short term window of opportunity
These firms plan to coordinate their activities by deploying sophisticated information systems to share critical data. Each of these companies is skilled at one or two core activities — design, manufacturing, distribution, marketing, and so on. This association of companies can be described as a(n) ________. Fill in the blank with the appropriate word.
Shadow Services uses the accrual method and reports on a calendar year. This year Shadow agreed to a uniform-cleaning contract with Odie Cleaning. Under the contract Odie bills Shadow for cleaning services as the services are provided. At year-end Shadow paid Odie $2,350 for the services rendered during the year. In addition, Shadow paid Odie $700 for cleaning services expected in January of next year. What amount, if any, can Shadow deduct for the cleaning services this year?
What will be an ideal response?