Rich Financial, Inc., files a financing statement regarding a transaction with Supreme Business Company. To be valid, the financing statement must contain all of the following except
A. a description of the collateral.
B. a statement of the purpose for the transaction.
C. Rich's name.
D. Standard's name.
Answer: B
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The phrase “When the United States sneezes, the economies of other nations catch a cold” was first used to describe the impact of the economy of the United States on the rest of the world at the end of World War II. This phrase is now
a. more true due to the impact of growing economic interdependence. b. less true due to the impact of growing economic interdependence. c. only true when followed by impacts in the European Union. d. all of these are only true in the case of an economic recession.
The practice of country risk assessment is an exercise in xenophobic and ethnocentric thinking.
Answer the following statement true (T) or false (F)
An entrusted merchant has the power to transfer all rights in the goods to a buyer in the ordinary course of business
Indicate whether the statement is true or false
A company uses the following standard costs to produce a single unit of output. Direct materials6 pounds at $0.90 per pound=$5.40 Direct labor0.5 hour at $12.00 per hour=$6.00 Manufacturing overhead0.5 hour at $4.80 per hour=$2.40 During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the total direct labor cost variance for the month was:
A. $1,200 unfavorable B. $2,450 unfavorable C. $1,200 favorable D. $3,650 favorable E. $2,450 favorable