Increasingly, organizations are restricting the use of their e-mail systems for business use only
Indicate whether the statement is true or false.
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A problem has an economically feasible solution if it can be solved with existing software and hardware technology
Indicate whether the statement is true or false
In 2015, Baloga Heating Company sold 400 water heaters for $350 each. The water heaters carry a 2-year warranty for repairs. Baloga estimates that repair costs will average 2% of the total selling price. How much is recorded in the warranty liability account as a result of selling the water heaters during 2015?
a. $4,200 b. $2,800 c. $1,400 d. No liability should be recorded until the water heaters are brought back for repairs.
When the perpetual inventory system is used, the inventory sold is shown on the income statement as
A) cost of merchandise sold B) purchases C) purchases returns and allowances D) net purchases
The balance in the Work in Process Inventory at any point in time equals
A. the costs for jobs finished during the period but not yet sold. B. the manufacturing cost of jobs ordered but not yet started into production. C. the manufacturing costs of all jobs started during the period, completed or not. D. the sum of the manufacturing costs for all jobs in process but not yet completed. E. the sum of the materials, labor and overhead costs paid during the period.