Which of the following observations concerning claims by general unsecured creditors is NOT true?
A. The amounts to be paid to them are usually stated as a percentage of the total claim.
B. They often receive less than the full amount of their claim.
C. They are entitled to "preference payments" at the discretion of the debtor's management.
D. They are paid only after secured creditors and unsecured creditors with priority are satisfied to the extent of any legal limits.
Answer: C
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Answer the following statement true (T) or false (F)
According to Mintzberg, in a(n) ______, an organization has experts from different specialties formed into project teams, organic structure with little formalization, and coordination by mutual adjustment.
A. adhocracy B. strategic apex C. operating core D. technostructure
Parker Corporation has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. At the beginning of the year, manufacturing overhead and direct labor-hours for the year were estimated at $50,000 and 20,000 hours, respectively. In June, Job #461 was completed. Materials costs on the job totaled $4,000 and labor costs totaled $1,500 at $5 per hour. At the end of the year it was determined that the company worked 24,000 direct labor-hours for the year and incurred $54,000 in actual manufacturing overhead costs. The manufacturing overhead for the year was:
A. $6,000 overapplied B. $10,000 overapplied C. $4,000 underapplied D. $10,000 underapplied
Most business professionals expect an email response within three days.
Answer the following statement true (T) or false (F)