Consumer product manufacturers spend more money on trade promotions directed towards retailers while service companies spend more money on media advertising
Indicate whether the statement is true or false
FALSE
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A court order authorizing an official to do something the official would otherwise be prohibited from doing is called a ________.
Fill in the blank(s) with the appropriate word(s).
Use the following information to answer the question below. On January 1, 2009, Falcon Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $17 per share. On February 1, 2009, Falcon purchased 1,000 shares of treasury stock for $19 per share and later sold the treasury shares for $26 per share on March 2, 2009
The entry to record the sale of the treasury shares on March 2, 2009 is: a. Cash 26,000 Common Stock 19,000 Retained Earnings 7,000 b. Cash 24,000 Retained Earnings 2,000 Treasury Stock, Common 26,000 c. Cash 26,000 Treasury Stock, Common 19,000 Gain on Treasury Stock, Common 7,000 d. Cash 26,000 Treasury Stock, Common 19,000 Paid-in Capital, Treasury Stock 7,000
Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000,
$60,000, and $70,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs into Department 1 during the period for direct materials is: A) Work in Process--Department 1 100,000Materials 100,000 B) Work in Process--Department 1 50,000Materials 50,000 C) Materials 100,000Work in Process--Department 1 100,000 D) Materials 50,000Work in Process--Department 1 50,000
Inventory that is "in the pipeline" moving from one link to another is:
A) anticipation inventory. B) transportation inventory. C) smoothing inventory. D) hedge inventory.