In which of the following ways can an accountant defeat the imposition of liability under Section 18(a)?
A) if he or she can show that the misleading statement was made to protect the company from bankruptcy
B) if he or she had acted out of recklessness
C) if he or she was an employee to the plaintiff
D) if he or she can show that the plaintiff had knowledge of the false statement
D
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A statement of stockholders' equity can take the place of a statement of retained earnings
Indicate whether the statement is true or false
Residual income is the
a. contribution margin of an investment center, less the imputed interest on the invested capital used by the center. b. contribution margin of an investment center, plus the imputed interest on the invested capital used by the center. c. income of an investment center, less the imputed interest on the invested capital used by the center. d. income of an investment center, plus the imputed interest on the invested capital used by the center.
The incremental-cost approach looks at the difference in the NPVs of the cost of each relevant item under two alternatives in an analysis.
Answer the following statement true (T) or false (F)
Decorte Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data:Total direct labor-hours10,000Total fixed manufacturing overhead cost$ 33,000Variable manufacturing overhead per direct labor-hour$ 2.50 Recently, Job K332 was completed with the following characteristics:Number of units in the job70Total direct labor-hours140Direct materials$ 455Direct labor cost$ 5,320The amount of overhead applied to Job K332 is closest to:
A. $462 B. $1,162 C. $350 D. $812