______ followers believe it is important to express their opinions and to offer input to their leaders when asked.
a. Engaged
B. Dynamic
C. Proactive
D. Active
D. Active
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The asset-liability method of interperiod tax allocation currently required by U.S. GAAP is an example of the
a. discounted comprehensive recognition approach. b. no-deferral approach. c. partial recognition approach. d. comprehensive recognition approach.
Fixed costs are ignored in allocating scarce resources because
a. they are sunk. b. they are unaffected by the allocation of scarce resources. c. there are no fixed costs associated with scarce resources. d. fixed costs only apply to long-run decisions.
_____ refers to remembering the content of the reading material
Fill in the blank(s) with correct word
Vargas Company uses the perpetual inventory system and the FIFO cost flow method. During the current year, Vargas purchased 400 units of inventory that cost $15.00 each. At a later date during the year, the company purchased an additional 800 units of inventory that cost $18.00 each. Vargas sold 500 units of inventory for $27.00. What is the amount of cost of goods sold that will appear on the current year's income statement?
A. $5,700 B. $7,800 C. $6,000 D. $4,500