All of the following are operating leases except a
a. monthly lease on a building that can be canceled with 90 days' notice.
b. ten-year lease on a new building.
c. two-year lease on a truck with an option to renew for one more year.
d. five-year lease of a computer with an option to buy for a small amount at the end of the lease.
D
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The following list contains several items that appear on an income statement. 1 . Other revenue and expenses 5 . Net Income 2 . Income before taxes 6 . Operating revenues 3 . Income taxes 7 . Income from operations 4 . Operating expenses Select the choice that lists the items in the order they would appear on a multi-step income statement
a. 6, 1, 7, 4, 2, 3, 5 b. 7, 6, 1, 4, 2, 3, 5 c. 6, 4, 7, 1, 2, 3, 5 d. 6, 7, 4, 1, 2, 3, 5
Fieldwork is the fifth step in the marketing research process
Indicate whether the statement is true or false
State Industries has the following information for 20X1:Units produced and sold3,000 unitsSelling Price$260/unitDirect materials$20/unitDirect labor$40/unitFixed manufacturing overhead$120,000/yearFixed selling and administrative costs$160,000/yearVariable manufacturing overhead$35/unitVariable selling and administrative costs$25/unitThere are no beginning inventories. Prepare an income statement for the year under absorption costing.
What will be an ideal response?
Which of the following statements concerning internal controls is true?
A. The control procedure, segregation of duties, prohibits the employment of a husband and wife or other closely related parties within the same company. B. Internal accounting controls are limited to the policies and procedures used to protect the company from embezzlement. C. Strong internal controls provide reasonable assurance that the objectives of a company will be accomplished. D. Internal administrative controls are designed to limit the amount of funds spent on investments.