Channels that contain intermediaries are indirect
Indicate whether the statement is true or false
TRUE
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The following budget data are available for Happy Company: Estimated direct labor hours 12,000 Estimated direct dollars $90,000 Estimated factory overhead costs $179,000 Actual direct labor hours 11,500 Actual direct dollars $92,000 Actual factory overhead costs $180,000 If factory overhead is to be applied based on direct labor dollars, the predetermined overhead rate is
A) 199% B) 196% C) $14.92 D) $15.65
Use the following income statement and information about selected current assets and current liabilities for Kimberline Industries to calculate the net cash provided or used by operating activities using the indirect method.KIMBERLINE INDUSTRIESIncome StatementFor Year Ended December 31Sales? $280,000Cost of goods sold? 124,000Gross profit from sales? $156,000Operating expenses:?? Salaries and wages expense $35,000? Depreciation expense 11,000? Rent expense 27,200? Interest expense 3,900 77,100Income from operations? $78,900Loss on sale of land? 4,700Net income? $74,200Increases and decreases of current asset and current liability accounts, all of which relate to operating activities, are as
follows:? ChangeAccounts receivable increase $3,600Merchandise inventory decrease 1,700Accounts payable increase 1,100Salaries and wages payable decrease 2,600 What will be an ideal response?
Technical skills can be learned on the job. ____________ are learned throughout your life.
a. Human skills b. Leading skills c. Management skills d. Emotional skills Learning Objective:
A contract was made for 125 bales of cotton to arrive on a ship named "Peerless" from Bombay. Unbeknownst to either party to the contract, there were two ships named "Peerless," both of which were sailing from Bombay. One sailed in October and the other in December. The buyer had in mind the ship sailing in October, but the seller had in mind the ship sailing in December. Each party held his
belief in good faith. When the goods failed to arrive on time, the buyer sued for breach of contract. The court found: a. the seller was in breach and must pay damages. b. the seller was guilty of fraud in the inducement for failing to disclose to the buyer which ship would contain the goods. c. no contract existed due to mistake in meaning of terms. d. none of these.