Choose the correct word in parentheses. There (was, were) some immigrants who arrived with illnesses
were
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The income statement tells the reader about the actual cash inflows during a period of time
a. True b. False Indicate whether the statement is true or false
The variable cost per unit ____________ as the number of sales increase
a. decreases b. changes c. remains constant d. increases
A company produces 200 microwave ovens per month, each of which includes one electrical circuit. The company currently manufactures the circuits in-house but is considering outsourcing the circuits at a contract cost of $30 each. Currently, the cost of producing circuits in-house includes variable costs of $22 per circuit and fixed costs of $5000 per month. Assume the company could eliminate all fixed costs by outsourcing and that there is no alternative use for the facilities presently being used to make circuits. If the company outsources, operating income will ________.
A) increase by $1600 B) decrease by $6000 C) decrease by $1600 D) increase by $3400
Which of the following does NOT represent a change in reporting entity?
a. Changing the companies included in combined financial statements b. Disposition of a subsidiary or other business unit c. Presenting consolidated statements in place of the statements of individual companies d. Changing specific subsidiaries that constitute the group of companies for which consolidated financial statements are presented