Past benefits already received by a promisor cannot be consideration for a later promise
Indicate whether the statement is true or false
True
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Indicate how each event affects the elements of the financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = IDecrease = DNo Effect = NA(Note that "No Effect" means that the event either does not affect the element of the financial statements or that the event causes an increase in that element and is offset by a decrease in that same element.) Gilliam Co. repaid a note payable on September 30, Year 1. The 8-month note had been issued on February 1, Year 1. The $20,800 cash payment included a $20,000 repayment of principal and a $800 payment for interest that had not been previously accrued.AssetsLiabilitiesStk. EquityRevenuesExpensesNetStmt. of ?IncomeCash Flows???????
What will be an ideal response?
Using the fixed-time-period inventory model, and given an average daily demand of 200 units, 4 days between inventory reviews, 5 days for lead time, 120 units of inventory on hand, a z of 1.96, and a standard deviation of demand over the review and lead time of 3 units, which of the following is the order quantity?
A. About 2,686 B. About 1,086 C. About 1,806 D. About 1,686 E. About 2,206
Randal Corporation recorded the following activity for the year just ended:Proceeds from sale of property$ 300,000Cash received from customers$ 120,000Issuance of common stock$ 180,000Issuance of bonds payable$ 500,000Dividends paid to stockholders$ 130,000Purchase of equipment$ 400,000The net cash provided by (used in) investing activities for the year was:
A. $(100,000) B. $400,000 C. $100,000 D. $(400,000)
The sample result plotted on an np control chart is?
A. ?the number of defects per part in the sample.? B. ?the nominal percentage of correctable defects. C. ?the number of perfect units in the sample. D. ?the number of defective units in the sample.