The two major product categories are business and institutional.
Answer the following statement true (T) or false (F)
False
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The following budget data are available for Oldest Company: Estimated direct labor hours 12,000 Estimated direct dollars $90,000 Estimated factory overhead costs $179,000 If factory overhead is to be applied based on direct labor hours, the predetermined overhead rate is
A) $2.57 B) $.51 C) $.067 D) $14.92
An accord is enforceable even though no new consideration is given
Indicate whether the statement is true or false
Under SEC rules, companies
a. can require electronic delivery of proxy statements to save mailing costs and improve operating efficiency of the corporation. b. are required to post the information in the annual report and the proxy statement on their Web site, file it with the SEC, and distribute it to shareholders c. must solicit proxies because a shareholder meeting is invalid unless a certain percentage of shareholders attend in person or by proxy. d. must give each shareholder a proxy, but not a proxy statement or an annual report, if the company is a public company.
Minors are liable for the reasonable value of necessaries
a. actually furnished. b. that they agreed to purchase. c. that their parents agreed to pay for. d. as determined by the merchant who sold the necessaries to the minor.