The excess of the actual overhead cost incurred over applied overhead is called
a. underapplied overhead; b. actual overapplied cost; c. overhead applied shortage; d. excess actual cost; e. none of these
A
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Which of the following is not a proper description with respect to the financial accounting and reporting of income taxes?
A. A net operating loss carryforward does not have any impact on income tax expense for the year the loss occurs. B. A permanent difference does not create a deferred tax asset or liability. C. Income tax expense changes during the year that future tax rate increases are enacted. D. An originating temporary difference will eventually create a reversing temporary difference.
On February 4, 2012, Samson Company had a market price per share of common stock of $32 . For the previous year, Samson paid an annual dividend of $1.28 . What is the amount of dividend yield for Samson Company?
a. 4% b. .4% c. 2.5% d. 25%
What did the court seek to do in the Pickering case?
What will be an ideal response?
Tim has been selling illegal drugs in his $1,000,000 house. When he is caught by the police, they confiscate the house. Tim sues the police for imposing excessive fines since the drugs he was selling were only worth $1,000 . The court is likely to find that:
a. Tim has a case since his property is worth much more than the drugs b. Tim does not have a case because the confiscation is part of a rational and consistent scheme to deter drug dealing c. Tim would have a case if he lived in Alabama d. Tim would have a case if he lived in Illinois e. Tim has a case because the confiscation of his house violates the Fifth Amendment