Answer the following statements true (T) or false (F)
Previous accounting standards have used a revenue-expense approach to pension accounting, which emphasizes the recognition and measurement of annual pension cost.
ANSWER: T
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The format of the direct materials budget is similar to that of the:
a. Factory overhead budget. b. Sales budget. c. Production budget. d. Direct labor budget.
On average, how much of a report's content should consist of quotations?
A) 10 percent B) 20 percent C) 30 percent D) 40 percent E) 50 percent
______ combine demographic data with knowledge about individuals’ lifestyles.
A. Lifestyle indicators B. Behavioral measures C. Demographic variables D. Psychographic measures
Bravo Bistro, Inc The stockholders' equity section of the December 31, 2011, balance sheet for Bravo Bistro appeared as follows: Common stock, $3 par, 2,000 shares issued and outstanding $ 6,000 Additional paid-in capital 1,000 Retained earnings 5,400 Total stockholders' equity $12,400 Assume that all of the 2,000 shares of Bravo's stock that was issued as of December 31, 2011, was issued for
$3.50 per share. On March 1, 2012, Bravo reacquired 1,000 shares of its common stock for $4.50 per share. Refer to the information presented above for Bravo Bistro, Inc The journal entry to record the transaction on March 1 includes a credit to what account and for what amount? A) $3,000 to paid-in capital from treasury stock transactions B) $4,500 to treasury stock C) $3,000 to common stock D) $4,500 to cash