Asset allocation is the process of dividing money across financial assets that include all of the following except
A) stocks.
B) bonds.
C) mutual funds.
D) All of the above can be used for asset allocation.
Answer: D
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Wolf Industries plant operates five days per week with a daily payroll of $50,000. Employees are paid every Saturday for the work week just completed (Monday through Friday). The last day of the month is Wednesday, May 31. The correct adjusting entry at May 31 is
A) Wages Expense 50,000Wages Payable 50,000 B) Wages Payable 50,000Cash 50,000 C) Wages Expense 150,000Cash 150,000 D) Wages Expense 150,000Wages Payable 150,000
Robin, the owner of a pizzeria, follows a standard sequence of steps to make pizzas. Once an order is received, her team members prepare the base, add the sauce, add the toppings, and then bake the pizza. The workstations in the kitchen are fixed in a sequence that facilitates this process. Given this scenario, it can be inferred that Robin's pizzeria uses a _____.
A. product layout B. process layout C. cellular layout D. combined layout
The ________ is a snapshot of the firm at a particular point in time
A) income statement B) statement of cash flows C) statement of retained earnings D) balance sheet E) None of the above
Multiply; round off monetary products to the nearest cent. Do not round off the non-monetary products
a. $0.625 × 8,000 b. 4.7807 × 1.309 c. $27.35 × 16.75