A direct labor efficiency variance is favorable if laborers actually work more hours than the flexible budget calls for to produce the actual quantity of output
Indicate whether the statement is true or false
FALSE .A direct labor efficiency variance is favorable if laborers actually work fewer hours than the flexible budget calls for to produce the actual quantity of output.
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What is territorial evaluation? What is the purpose and benefit of territorial evaluation?
What will be an ideal response?
Best, Inc, a merchandiser, sells office supplies
The following information summarizes Best's operating activities during the year: Utilities Expense $6,000 Rent for Store Expense 8,000 Sales Commissions Expense 4,500 Purchases of Merchandise 54,000 Merchandise Inventory on January 1 30,000 Merchandise Inventory on December 31 20,500 Sales Revenue 108,000 Required: Prepare an income statement for Best, Inc for the year ended December 31, using the format below. Sales Revenue Cost of Goods Sold: Beginning Inventory Purchases Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit Selling Expenses: Sales Commissions Expense Administrative Expenses: Rent Expense Utilities Expense Total Operating Expenses Operating Income What will be an ideal response
Which of the following statements about risk-bearing financial institutions is incorrect?
A) An example of a risk-bearing financial institution is a mutual fund. B) Risk-bearing financial institutions concentrate their investments in a limited number of assets. C) Risk-bearing financial institutions assume the risks of their customers. D) All of the above are incorrect.
A case by a client against its CPA firm alleging negligence would be brought under:
A. The Securities Exchange Act of 1934. B. The state blue sky laws. C. Common law. D. The Securities Act of 1933.