The purchase order
a. is the source document to make an entry into the accounting records
b. indicates item description, quantity, and price
c. is prepared by the inventory control department
d. is approved by the end-user department
B
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Shuttle Master Airlines has leased an aircraft from Streamline Aircraft Company. The annual payments are $1,000,000 and the life of the lease is 18 years. It is estimated that the useful life of the aircraft is 20 years. How would Shuttle Master Airlines record the acquisition of the aircraft? The effective rate of interest is 9%
a. The company would not record the aircraft as an asset but would record rent expense of $1,000,000 per year for 18 years. b. The company would not record the aircraft as an asset but would record rent expense of $900,000 per year for 20 years. c. The aircraft would be recorded as an asset with a cost of $8,756,000. d. The aircraft would be recorded as an asset with a cost of $9,129,000.
A questionnaire is a structured technique for data collection that consists of a series of questions, written or verbal, which a respondent answers
Indicate whether the statement is true or false
During September, Genesis sold 100 radios for $50 each. Each radio cost Genesis $30 to purchase, and carried a two-year warranty. If 5% typically need to be replaced over the warranty period and one is actually replaced during September, for what amount in September would Genesis debit Product Warranty Expense?
a. $50 b. $150 c. $30 d. $120 e. $52.50
Whereas Porter concentrates attention externally on markets, advocates of the RBV focus attention:
a. Externally on macro-external forces b. Externally on strategic groups c. Internally on organizational capabilities d. Internally on organizational structure