Which of the following is the best description for the purpose of an estate created for divorce or bankruptcy?
a. To pay for the all of the legal fees in filing a chapter 7, 11, or 13 bankruptcy or to pay the legal fees of a divorce
b. To protect the assets of the party filing bankruptcy so that no further losses are realized
c. To settle the debts of the debtor or divorce partner of which the Bankruptcy or Divorce Court has control
d. To hold only the physical assets of the divorce partner or debtor for the period of the bankruptcy or divorce
c
FEEDBACK: a. Incorrect.
b. Incorrect.
c. Correct.
d. Incorrect.
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Which of the following is not a characteristic of a successful incentive pay plan?
A. Clear goals B. Regular communication with employees about the incentive plan C. Realistic goals D. Complex and comprehensive rules E. Consistency with the organization's existing goals
For a given job, the amount of processing time remaining divided by the amount of time until the job is due is its ________
Fill in the blank(s) with the appropriate word(s).
Which of the following statements about ethical behavior in business is true?
A. The legal environment sets the highest standards of ethical behavior. B. The legal environment sets the normative standards of ethical behavior. C. The legal environment sets the maximum standards of ethical behavior. D. The legal environment sets the minimum standards of ethical behavior. E. None of these statements is true.
Krumbly Corporation uses the FIFO method in its process costing system. At the beginning of the month, Department D's work in process inventory contained 2,000 units. These units were 100% complete with respect to materials and 40% complete with respect to conversion costs, with a total cost at that point of $13,600. During the month, conversion costs amounted to $8 per equivalent unit. If all 2,000 units are fully complete by the end of the month and transferred out of the department, the total cost of the 2,000 units transferred out will be closest to:
A. $19,600 B. $9,600 C. $23,200 D. $16,000