Under the FIFO method, in addition to the cost of units started and completed during the period, the cost of the units transferred out of the department includes: The cost in beginningwork in processinventoryThe cost to completethe units in beginningwork in processinventoryA)YesYesB)NoYesC)YesNoD)NoNo
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: A
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The stub attached to the customer statement is also known as a turnaround document
Indicate whether the statement is true or false
Aron, a company manufacturing snack food and soft drinks, replicates its product taste and packaging from Lay's, a market leader in snack food industry. Later, it sells these imitated products on the black market. This is an example of ________
A) cloning B) imitating C) counterfeiting D) adapting E) innovating
Pat's Pen Co manufacturers and sells an inexpensive ball-point pen. Salley's Stationery purchases the pens for $.25 each in quantities of 1,000 . Salley's discovered that a national chain, a competitor of Salley's, buys the pen at $.20 for 1,000 . If Salley's Stationery sues Pat's Pen Co for price discrimination:
a. Pat's Pen Co. will win if it can prove that it has been selling to the national chain continuously at the cheaper rate. b. Pat's Pen Co. will win if it can prove that it did not intend to economically harm Salley's Stationery. c. Salley's Stationery will win unless Pat's Pen Co. can justify the price differential. d. Salley's Stationery will win since price discrimination is a per se violation with no real defenses.
Which of the following is true about operating agreements for LLCs?
A) They are not required, but are recommended. B) All LLCs must have them, but they need not be filed. C) All LLCs must have one, and they must be filed with the articles of organization. D) They must be in writing in order to be enforceable. E) Member-managed LLCs must have one, but they are not required for manager-managed LLCs.