Prime cost equals manufacturing overhead cost.
Answer the following statement true (T) or false (F)
False
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In reconciling the bank statement, it was noted a check written for $65 (correct amount) was recorded in the books as $56 . On the bank reconciliation, the difference would be
a. added to the checkbook balance; b. subtracted from the checkbook balance; c. added to the bank balance; d. subtracted from the bank balance; e. removed from the bank account
What is the term for the strategy used in restaurants through which guests get a view of the kitchen or other parts of the establishment?
a. micro-merchandising b. sight lines c. servicescapes d. closeness desirability
The term open source means that the source code of the program is not available to the public.
Answer the following statement true (T) or false (F)
On January 1, 2020, Elva Corp. paid $750,000 for 80% of Fenton Co. when the book value of Fenton's net assets was $800,000. Fenton owned a building with a fair value of $150,000 and a book value of $120,000.Required: At what amount would the building appear on a consolidated balance sheet prepared immediately after the combination, under the acquisition method of accounting for business combinations?
What will be an ideal response?