Consider the following statements about dual-cost allocation:Dual-cost allocation prevents a change in the short-run activity of one department from affecting the cost allocated to another department.
Dual-cost allocations create an incentive for user department managers to understate their expected long-run service needs.
Dual-cost allocations are generally preferred over lump-sum allocations, or those that combine variable and fixed costs together.
Which of the above statements is (are) true?
A. III only.
B. I and II.
C. I, II, and III.
D. I only.
E. II and III.
Answer: C
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The property of the primary key in a table in Microsoft Access should be set to:
A. The Required field = "NO" and the Indexed field = "Yes (Duplicated)". B. The Required field = "Yes" and the Indexed field = "Yes (Duplicated)". C. The Required field = "Yes", and the Indexed field = "Yes (No Duplicates)". D. The Required field = "NO" and the Indexed field = "Yes (No Duplicates)".
On February 3, Smart Company sold merchandise in the amount of $1800 to Truman Company, with credit terms of 1/10, n/30. The cost of the items sold is $1240. Smart uses the perpetual inventory system and the gross method. Truman pays the invoice on February 8, and takes the appropriate discount. The journal entry that Smart makes on February 8 is:
A.
| Cash | 1720? | |
| Sales discounts | 12? | |
| Accounts receivable | 1732.00? |
B.
| Cash | 1800? | |
| Accounts receivable | 1800? |
C.
| Cash | 1782.00? | |
| Sales discounts | 18? | |
| Accounts receivable | 1800? |
D.
| Cash | 1240? | |
| Accounts receivable | 1240? |
E.
| Cash | 1160? | |
| Accounts receivable | 1160? |
Hardin (1968) described the tragedy of the commons as a dilemma arising when the common good does not align perfectly with the good of individual entities
Indicate whether the statement is true or false.
Neal, a twelve-year-old, buys a pair of skis from Outdoor Outfitters (OO), telling the salesperson that he has never been skiing but "really wants to do it." The salesperson urges Neal to take a lesson in the sport before attempting a run, but Neal ignores the advice. On the first run, Neal loses control, hits a tree, and is injured. Neal files a suit against OO, alleging that it was negligent to have sold the skis to him, when he was clearly too young and inexperienced. How might OO defend itself?
What will be an ideal response?