In order for accounting information to be useful in making informed decisions, it must be
a. relevant
b. reliable
c. Neither relevant nor reliable
d. Both relevant and reliable
d
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Erica, a vice president of human resources at an automobile company, wants to develop its programs for employee empowerment. However, she is concerned because unions are heavily involved in representing auto workers and might object to empowerment programs. Which statement about the National Labor Relations Board would best address Erica's concern?
A. In its rulings, the NLRB has allowed employee empowerment in certain very limited situations. B. The NLRB has issued statements indicating that it will not tolerate employee empowerment. C. In its rulings, the NLRB has shown clear support for employee involvement in decision making. D. The NLRB has issued rulings that say employee empowerment is allowed only in a nonunion environment. E. The NLRB makes it an unfair labor practice to form employee participation committees to make decisions.
An appropriate red flag search to detect kickbacks or other fraud being committed by vendors would include:
a. invoices without valid purchase order. b. employee and vendor telephone numbers are the same. c. purchase orders with zero dollar amounts by buyer. d. price increases greater than 20% for several consecutive years.
Mesa Telcom has three divisions, commercial, retail, and consumer, that share the common costs of the company's computer server network. The annual common costs are $2,400,000. You have been provided with the following information for the upcoming year: ConnectionsTime on Network (hours)Commercial60,000120,000Retail80,000150,000Consumer100,000330,000The cost accountant determined $1,700,000 of the server network's costs were fixed and should be allocated based on the number of connections. The remaining costs should be allocated based on the time on the network. What is total server network costs allocated to the Consumer Division (rounded to the nearest whole dollar), assuming the company uses dual-rates to allocate common costs?
A. $1,200,000. B. $954,896. C. $750,000. D. $1,093,333.
A corporation issued 5300 shares of $10 par value common stock in exchange for some land with a market value of $76,000. The entry to record this exchange is:
A. Debit Land $76,000; credit Common Stock $76,000. B. Debit Common Stock $53,000; debit Paid-In Capital in Excess of Par Value, Common Stock $23,000; credit Land $76,000. C. Debit Common Stock $76,000; credit Land $76,000. D. Debit Land $76,000; credit Common Stock $53,000; credit Paid-In Capital in Excess of Par Value, Common Stock $23,000. E. Debit Land $53,000; credit Common Stock $53,000.