Notice of an assignment:
A) must be given to the obligor.
B) cuts off any defenses based on prior agreements between the obligor and assignor.
C) precludes subsequent setoffs and counterclaims of the obligor that arise out of entirely separate matters.
D) All of these.
C
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Indicate whether the statement is true or false
If a retailer's gross margin is tracking below plan, which of these options would increase their gross margin?
A. Increase markdowns B. Negotiate better prices with vendors to decrease cost of goods sold C. Increase payroll D. Decrease utilities E. Defer paying taxes
Normand Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 700 Materials costs$8,700 Conversion costs$3,700 Percent complete with respect to materials 70%Percent complete with respect to conversion 10%Units started into production during the month 6,400 Units transferred to the next department during the month 5,600 Materials costs added during the month$92,200 Conversion costs added during the month$269,600 Ending work in process inventory: Units in ending work in process inventory 1,500 Percent complete with respect to materials 80%Percent complete with respect to
conversion 25% The cost per equivalent unit for conversion costs for the first department for the month is closest to: A. $48.14 B. $45.66 C. $47.94 D. $52.86
Equipment was acquired for $210,000 and has accumulated depreciation of$93,000
The business exchanges this equipment for new equipment. The new equipment has a market value of $304,000 and the business pays $52,000 cash. Assume the exchange has commercial substance. The exchange results in ________. A) loss $135,000 B) gain $187,000 C) gain $135,000 D) loss $187,000