What organizational format best describes a situation where a large number of subordinates report to one manager?
a. diversified retailer
b. tall organization
c. chain organization
d. flat organization
d
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If a balance sheet is prepared between the date of declaration and date of payment, how is the Dividends Payable account treated?
a. No entry is required since there has been no payment. b. The Dividends Payable account is reported as a contra-asset account. c. The Dividends Payable account is reported as a contra-equity account. d. The Dividends Payable account is reported as a contra-revenue account. e. The Dividends Payable account is reported as a current liability account.
Aaron owns a certificate of deposit with Beth, his sister, and an apartment building with Carl, his brother, in both cases as a joint tenant. Aaron, a partner with Debra in Aaron & Debra Accountants, obtains a life insurance policy with Debra as the designated beneficiary. Aaron writes a will that gives particular items of personal property, as well as specific amounts of cash, to his children and his friends. The will leaves the residue of the estate to Eve, Aaron's favorite cousin. Carl dies. Aaron, on his own deathbed, makes a gift to the United Way. Will the certificate of deposit, the apartment building, the proceeds from the life insurance policy, and the gift to the United Way become part of Aaron's estate and be distributed under the will? If not, how will these items be
distributed and to whom? What will be an ideal response?
A company's net cash from operating activities is lower than its net income indicating that
A) too much cash is being spent. B) the company had less available funds than its net income. C) too little cash is being spent. D) none of the above.
Tessmer Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During January, the kennel budgeted for 3,100 tenant-days, but its actual level of activity was 3,090 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for January:Data used in budgeting: Fixed Element per MonthVariable element per tenant-dayRevenue - $33.60 Wages and salaries$3,500 $7.40Food and supplies 500 10.50Facility expenses 9,500 4.70Administrative expenses 6,600 0.30Total expenses$20,100 $22.90?Actual results for January:? ?Revenue$105,934 Wages and salaries$27,186?Food and supplies$32,485?Facility expenses$24,873?Administrative
expenses$7,557???The facility expenses in the flexible budget for January would be closest to: A. $24,070 B. $24,953 C. $24,793 D. $24,023