Stephan was excited about his newly purchased laptop. It had all the features he wanted, and was really fast with a great display for his gaming. In addition, the $1,200 price tag was reasonable. The same day he took it out of the box, he saw an online special for a similar computer, on sale for only $1,000. Suddenly he began to doubt his purchase decision, and worried that maybe he hadn't gotten such a good deal. Stephan was most likely experiencing
A. limited problem solving.
B. product conflict.
C. cognitive dissonance.
D. selective discord.
E. product uncertainty.
Answer: C
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Which one of the following equations represents retained earnings activity?
a. Beginning balance + net income + dividends = profits for the year b. Beginning balance + cash inflows – cash outflows = ending balance c. Beginning balance + dividends – net income = ending balance d. Beginning balance + net income – dividends = ending balance
Management accounting focuses on external decision making
Indicate whether the statement is true or false
Managers eliminate non-value-adding activities that are not essential to an organization
Indicate whether the statement is true or false
Wrap-It Company, a manufacturer of wrapping paper, began operations on June 1 of the current year. During this time, the company produced 370,000 units and sold 310,000 units at a sales price of $50 per unit. Cost information for this period is shown in the following table:Production costs? Direct materials$2.00 per unit Direct labor$.80 per unit Variable overhead$814,000 in total Fixed overhead$481,000 in totalNon production costs? Variable selling and administrative$78,000 in total Fixed selling and administrative$210,000 in totala. Prepare Wrap-It's December 31st income statement for the current year under absorption costing.b. Prepare Wrap-It's December 31st income statement for the current year under variable costing.
What will be an ideal response?