The chief financial officer (CFO) is responsible for overseeing financial planning, corporate strategic
planning, and controlling the firm's cash flow.
Indicate whether the statement is true or false
TRUE
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Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000,
$60,000, and $70,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs from Department 1 into Department 2 during the period is: A) Work in Process--Department 2 390,000Work in Process--Department 1 390,000 B) Work in Process--Department 2 330,000Work in Process--Department 1 330,000 C) Work in Process--Department 2 255,000Work in Process--Department 1 255,000 D) Work in Process--Department 2 375,000Work in Process--Department 1 375,000
A cashier's check is a two-party check
Indicate whether the statement is true or false
______ is (are) a collective phenomenon that is about elements of our mental programming that we share with others in a society.
A. Beliefs B. Attitudes C. Culture D. Values
Carpark Services began operations in 20X1 and maintains long-term investments in available-for-sale debt securities. The year-end cost and fair values for its portfolio of these debt securities follows. The year-end adjusting entry to record the unrealized gain/loss at December 31, 20X1 is: Available-for-Sale SecuritiesCost Fair ValueDecember 31, 20X1$250,000 $241,000December 31, 20X2$340,000 $350,000
A. Debit Fair Value Adjustment - Available-for-Sale (LT) $9,000; Credit Unrealized Loss - Equity $9,000. B. Debit Unrealized Loss - Equity $9,000; Credit Fair Value Adjustment - Available-for-Sale (LT) $9,000. C. Debit Fair Value Adjustment - Available-for-Sale (LT) $9,000; Credit Unrealized Gain - Equity $9,000. D. Debit Realized Loss - Income $9,000; Credit Fair Value Adjustment - Available-for-Sale (ST) $9,000. E. Debit Unrealized Gain - Equity $9,000; Credit Fair Value Adjustment - Available-for-Sale (LT) $9,000.