The Federal Reserve uses ____ when it lowers the interest rate charged to banks on short-term loans.
A. monetary policy
B. national debt
C. inflation
D. fiscal policy
E. competition
Answer: A
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Underapplied overhead resulting from unanticipated and immaterial price increases for overhead items should be written off by
a. decreasing Cost of Goods Sold. b. increasing Cost of Goods Sold. c. decreasing Cost of Goods Sold, Work in Process Inventory, and Finished Goods Inventory. d. increasing Cost of Goods Sold, Work in Process Inventory, and Finished Goods Inventory.
Which production planning strategy varies production to match demand?
a. Chase strategy b. Level strategy c. Mixed strategy d. No strategy exists that varies production to match demand
Garner places great emphasis on operating his business to the highest standards of honesty and ethics. Garner likely believes:
A. the end justifies the means. B. how you achieve is as important as what you achieve. C. the customer is always right. D. good guys finish last.
Carol Co. has total debits in its cash T-account of $155,000 and total credits of $120,000. The balance in the cash T-account is a:
A. credit of $120,000. B. debit of $35,000. C. credit of $35,000. D. debit of $155,000.