Which of the following is not one of the "Five C's of Borrowing?"
A. certainty
B. collateral
C. character
D. conditions
Answer: A
You might also like to view...
________ is also referred to as the level of support or service level.
A. Product breadth B. Product assortment C. Product satisfaction D. Product depth E. Product availability
According to the Institute of Management Accountants (IMA) Statement of Ethical Professional Practice, under the Integrity Standard, each member has the responsibility to:
a. Communicate information fairly and objectively. b. Keep information confidential. c. Mitigate actual conflicts of interest. d. Maintain an appropriate level of professional competence.
Prepare adjusting entries for the year ended December 31, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts and that fees collected in advance are initially recorded as liabilities.a. The Prepaid Rent account has a debit balance of $8,000 before adjustment, representing a prepayment for four months' rent made on December 1 of the current year.b. One-third of the work related to $18,000 of cash received in advance was performed during this period.c. Unpaid accrued salaries at December 31 amounts to $15,000d. Work was completed for a client on December 31 in the amount of $21,000, but was not previously billed or recorded.e. Estimated depreciation on office equipment is $27,000.
What will be an ideal response?
Which of the following statements is true regarding process costing?
A) Product costs are tracked and assigned to each job. B) Product costs are tracked to particular departments and then assigned evenly to the products that pass through each department. C) There should not be any beginning or ending work-in-process inventory. D) The units produced by a processing department should all be different in some way or another.