As a company's accounts receivable turnover ratio increases from one year to the next, they will find that the number of days' sales in receivables:
A) decreases.
B) increases.
C) stays the same.
D) can not be determined.
A
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What three elements must be present for a problem to be "structured?"
When computing the cost per equivalent unit, the FIFO costing method considers
A) current costs only. B) current costs plus ending work in process inventory costs. C) current costs less ending work in process inventory costs. D) current costs plus beginning work in process inventory costs.
Homemade Soup Co has advertised their soup in certain magazines using photographs showing bowls of their soup but with pebbles at the bottom of the bowl. The pebbles were used to displace the soup in the bowl, forcing the vegetables and meat to the
surface. This photographer's trick made the soup appear heartier than it was. An FTC staffer is thumbing through the latest edition of her favorite magazine. She notices the Homemade Soup Co ad and goes to her kitchen, opens a can of Homemade's soup and decides that her bowl of soup looks nothing like the one in the ad. What are the steps the FTC would take to proceed against Homemade Soup Co?
Racine Corporation has excess capacity. If the firm desires to implement the general transfer-pricing rule, opportunity cost would be equal to:
A. the contribution margin forgone from the lost external sale. B. the direct expenses incurred in producing the goods. C. the summation of variable cost plus fixed cost. D. zero. E. the total difference in the cost of production between two divisions.