Which of the following is a condition required by the SEC for the recognition of revenue?
a. Completion of goods manufactured
b. Execution of a promissory note
c. Price in excess of $100
d. Reasonable assurance of collection
D
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Boalsburg Co purchased a truck on January 1, 2014, for $30,000 . The truck had an estimated life of 5 years and an estimated residual value of $5,000 . Lightning Delivery used the straight-line method to depreciate the asset. On July 1, 2016, the truck was sold for $17,000 cash. The journal entry to record the sale of the truck in 2016?
a. increases net income b. increases total assets c. decreases total expenses d. decreases stockholders' equity
The sample size decision should be guided by certain qualitative considerations. Which of the following is not one of those considerations?
A) the resource constraints B) the average size of samples in similar studies C) the sampling technique to be used D) the nature of the results
Income taxes
a. will increase the break-even point. b. will decrease the break-even point. c. have no impact on the break-even point. d. may increase or decrease the break-even point depending upon the income tax rate.
The ______ column(s) in the sensitivity analysis report show(s) the extent to which the profit per unit of the decision variables can be changed without affecting the current optimal solution.
A. final value B. reduced cost C. shadow price D. allowable increase and allowable decrease