Which of the following accurately illustrates the chronological process of a bill becoming a law?
A) affirmative vote by both houses of Congress, referral to a committee, bill is marked up, subcommittee approval
B) referral of bill to a subcommittee, approval by the subcommittee and larger committee, affirmative vote by both houses of Congress, president's signature
C) president's signature, bill is marked up, subcommittee hearings, affirmative vote by both houses of Congress
D) passage of bill by Senate, passage of bill by House of Representatives, Senate-House Conference Committee reconciles differences, referral to subcommittee
B
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Answer the following statements true (T) or false (F)
1. The useful life of a plant asset is the length of the service period expected from the asset. 2. Estimated residual value is not depreciated because the company is guaranteed to receive this amount when the asset is sold. 3. Estimated residual value can be zero if the company does not expect to receive anything when 4. When a business uses the straight-line method of depreciation, the amount of depreciation is reduced from year to year. 5. The book value of a plant asset is reported on the balance sheet as the cost of the asset minus accumulated depreciation.
Which of the following is an application of the principle of systematic and rational allocation?
a. Sales commissions b. Office salaries c. Telephone expense d. Depreciation expense
Garrison Company acquired $23,000 by issuing common stock. Which of the following accurately reflects how this event affects the company's financial statements? Assets=Liab.+EquityRev.?Exp.=Net Inc.Stmt ofCash FlowsA.23,000=NA+23,000NA?NA=NA23,000 FAB.23,000=NA+23,00023,000?NA=23,00023,000 FAC.23,000=23,000+NA23,000?NA=NA23,000 FAD.23,000=23,000+NA23,000?NA=23,00023,000 OA
A. Option A B. Option B C. Option C D. Option D
As an electrician, Jason gets paid double time for any overtime hours. Last week, Jason worked 9.5 hours overtime. If he made $498.75 for those hours, what is Jason's straight time rate?