For purposes of raising property taxes, which of the following transfers of title do not constitute a reassessment event?
Answer:
Transfer of property between spouses
or
Transfer of a principal residence up to $1 million in assessed value, between parents and children
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Which of the following is true of Organization for Economic Cooperation and Development (OECD) reports?
A. They assert that most enterprises' codes of conduct expressly publish policies that deal directly with corruption. B. They coordinate domestic and international policies of developing countries. C. They were created to promote rules for the corporations based on the culture of the place. D. They state that most codes of conduct tend to speak in positive terms, such as, a commitment to honesty.
Answer the following statements true (T) or false (F)
1. Variable costing prepares the income statement using the traditional format. 2. The contribution margin format of the income statement categorizes costs by their behavior. 3. The fixed manufacturing overhead is considered a product cost in variable costing and a period cost in absorption costing. 4. Variable costing considers direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead as product costs. 5. The level of inventory on hand at the end of the year does not affect the amount of operating income calculated under variable costing and absorption costing.
Able Co budgeted production of 5,000 bracelets and 7,500 necklaces for January. Each bracelet requires 5 minutes of labor, and each necklace requires 6 minutes of labor. If labor costs are $15 per hour, the direct labor cost budget for January is ________
a. $18,750 b. $17,500 c. $15,625 d. $16,875
Characteristics of a lean supply chain include ______.
A. greater frequency of quality inspections B. vendor-managed inventory C. increased amount of rework D. increased quantity of scrapped materials