An outstanding mortgage balance in excess of the value of a house is referred to as negative equity
a. True
b. False
Indicate whether the statement is true or false
True
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The book states that BOP strategies often fail. There are as many reasons for failure as there are reasons for success. The book explicitly states to "fail early and fail fast." Why is this advice important for social entrepreneurs?
A. It offers an "escape route" for risky ventures. B. It suggests that BOP strategies are destined for failure and therefore a success is a real "win." C. It suggests that a lot can be learned from failures, lessons that sow the seed of success for the next venture. D. It means the faster you fail, the more the investors will get back out of the venture. E. It suggests that if you think you might fail, get out early and recover your losses.
Kern Corporation produces a single product. Selected information concerning the operations of the company follow: Units in beginning inventory0Units produced10,000Units sold9,000 Direct materials$40,000Direct labor$20,000Variable manufacturing overhead$12,000Fixed manufacturing overhead$25,000Variable selling and administrative expenses$4,500Fixed selling and administrative expenses$30,000Assume that direct labor is a variable cost.Which costing method, absorption or variable costing, would show a higher operating income for the year and by what amount? (Round your intermediate calculations to 2 decimal places.)
A. Absorption costing net operating income would be higher than variable costing net operating income by $5,500. B. Absorption costing net operating income would be higher than variable costing net operating income by $2,500. C. Variable costing net operating income would be higher than absorption costing net operating income by $2,500. D. Variable costing net operating income would be higher than absorption costing net operating income by $5,500.
If the terms of a contract make it difficult to determine whether a particular transaction is a sale on approval or a sale on return, it will be considered a sale or return if the buyer took the goods
a. primarily for use rather than for resale. b. primarily for resale rather than for use. c. on COD terms. d. in bulk.
Title insurance protects against the exceptions listed
Indicate whether the statement is true or false