Which of the following is not an assumption of CVP analysis?
A) Selling prices change only at the end of the month.
B) Costs can be thought of as fitting a linear function within the relevant range.
C) Sales mix is constant.
D) Inventory levels do not change.
A
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The statement of cash flows provides relevant information to lenders, investment bankers, and investors to help them analyze a company's cash flows from its operating, investing, and financing activities.
Answer the following statement true (T) or false (F)
Which of the following is a characteristic of Total Quality Management (TQM)?
a. Decision making power is centrally controlled. b. Functional or departmental boundaries are minimized. c. Cross-disciplinary teams are dismantled. d. Teams perform narrowly focused tasks.
During 2017, Christiana's employer withheld $1,500 from her wages for state income taxes. She claimed the $1,500 as an itemized deduction on her 2017 federal income tax return which included $9,000 of itemized deductions (the 2017 standard deduction was $6,350). Christiana is single. On her 2017 state income tax return, her state income tax was $900. As a result, Christiana received a $600 refund in 2018. What amount must Christiana include in income in 2018?
A. $600 B. $1,500 C. $900 D. $0
A question of ethics
Heber Burke and his wife Evelyn spent most of their lives in Ohio and jointly accumulated a substantial amount of property there. When Evelyn died in February 1985, the Burkes had been married for fifty-three years and had two children, four grandchildren, and four great-grandchildren. Heber had originally hailed from Pike County, Kentucky, and in June 1985, he returned to Pike County and bought a house there. In the same month, he told his children that he was going to marry Lexie Damron, a widow who attended his church. Lexie and Heber were married on July 20. On July 27, Heber executed a will, which was drawn up by Lexie's attorney, in which he left all of his property to Lexie. Heber died three weeks later. Heber's children, Don-ald Burke and Beatrice Bates, contested the will, alleging that Heber had lacked testamentary capacity and that Heber's will had resulted from Lexie's undue influence over him. Friends and relatives of Heber in Pike County testified that they had never known Heber to drink and that, although he seemed saddened by his first wife's death, he was not incapacitated by it. Accord-ing to the children's witnesses, however, after Evelyn's death, Heber allegedly drank heavily and constantly; had frequent crying spells; repeatedly visited his wife's grave; tried to dig her up so that he could talk to her; and had hallucinations, talking to people who were not present and claiming that Evelyn visited him regularly at night, which frightened him into sleeping in the attic. The jury found the will to be invalid on the grounds of undue influence, and Lexie appealed.