In a period of rising sales, utilizing past cost and expense ratios (percent-of-sales method) when preparing pro forma financial statements will tend to ________
A) overstate costs and overstate profits
B) overstate costs and understate profits
C) understate costs and overstate profits
D) understate costs and understate profits
B
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Answer the following statements true (T) or false (F)
1. Fine Oil uses an organizational structure that includes both functional divisions (such as marketing and HR) and a divisional chain of command (such as the chemical and petroleum products divisions). For example, Glen, a salesperson for Fine Oil, reports to both the marketing manager and the petroleum products manager as he starts to develop the Shell Oil account. Fine Oil uses a matrix structure. 2. While figuring out how to save money for a bride who is having financial problems, Paula, the catering manager of Oh Happy Day, asked her assistant, "What do you think is the best menu to offer under these particular circumstances? How can we offer the bride and groom's guests a great meal within their budget?" Paula and her assistant are using the contingency approach. 3. Lena works as an order-taker at Fast Burger, a fast-food restaurant. She does not cook food, or even package the final order, but she does input the order and takes payment. Lena reports directly to the shift manager, and she seldom interacts with the general manager. Fast Burger is an example of a mechanistic organization. 4. The marketplace is becoming less homogeneous and moving toward more niche products.
One of the forms of solution selling is to provide solutions to enhance customer revenues
Indicate whether the statement is true or false
According to the text, accepting the ________ will lead to changes in opinions or actions
A) null hypothesis B) alternative hypothesis C) random hypothesis D) standardized hypothesis E) quid pro quo
The correct adjusting entry for accrued and unpaid employee salaries of $7800 on December 31 is:
A. Debit Salary Expense, $7800; credit Fees Earned, $7800. B. Debit Salary Expense, $7800; credit Prepaid Salary, $7800. C. Debit Salary Expense, $7800; credit Cash, $7800. D. Debit Salary Expense, $7800; credit Salaries Payable, $7800. E. Debit Salaries Payable, $7800; credit Salary Expense, $7800.