One of the most important order-winning criteria for service firms is ______.
a. to operate at economies of scale
b. to have customer convenience
c. to have excess capacity available
d. to have idle capacity
b. to have customer convenience
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Some of the steps in the accounting cycle are listed below. Select the choice that places these steps in the correct order. 1 . Close the accounts. 2 . Post transactions to accounts in the ledger. 3 . Journalize daily transactions. 4 . Record and post adjustments. 5 . Prepare financial statements
a. 2, 3, 4, 5, 1 b. 3, 2, 4, 5, 1 c. 3, 2, 4, 1, 5 d. 3, 2, 5, 4, 1
To convert a conceptual model with a maximum Multiplicities relationship of "many to many" into relationship database tables, one must:
A. Create a foreign key in one of the tables to link the two tables. B. Create a relationship table to handle the many-to-many relationship. C. Many-to-many relationship cannot be represented in Access. D. Create a relation with no attributes of its own.
Describe the income recognition principles and how they are applied
Dawson Corporation produces a product called Blocker, which gives rise to a by-product called Spotter. The only costs associated with Spotter are additional processing costs of $4 for each unit. Dawson accounts for Spotter's sales first by deducting its separable costs from its sales and then by deducting this net amount from the cost of sales of Blocker. This year, 9,600 units of Spotter were produced. They were all sold for $8 each. Company operating expenses were $250,000 for the year. Sales revenue and cost of goods sold for Blocker were $1,600,000 and $800,000, respectively. (CPA adapted)Required:(a) Calculate the company's gross margin under the current accounting method.(b) Assume the company changes its accounting method and accounts for the by-product's net realizable value as
"other revenue." Calculate the gross margin under the new method.(c) Under what circumstances would method (a) or (b) be preferred? What will be an ideal response?