Any property, money, or other benefit received by the agent in the course of an agency belongs to the principal.
Answer the following statement true (T) or false (F)
True
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It is necessary for a company to use the same depreciation method for all of its depreciable assets
a. True b. False Indicate whether the statement is true or false
The ability to speak foreign languages is one difference between managers born and raised in the United States and those born and raised elsewhere. Which of the following is true and reflects this statement?
A) There are 200 million Chinese children studying English. B) There are 24 million American children studying Chinese. C) There are 200 million Indian children studying Chinese. D) Chinese managers study English as much as Chinese. E) There are equal numbers of American and Chinese children studying English.
When an existing partner sells his interest to another party in a personal transaction ________.
A) it is considered a transaction between the partnership and the new party B) the old partnership will continue functioning, since the partner is replaced by another party without diluting the old partnership C) the journal entry simply debits the withdrawing partner's capital account and credits the new partner's capital D) the equity and assets in the balance sheet always increase by the same amount
Forsyth, Inc. uses estimated direct labor hours of 245,000 and estimated manufacturing overhead costs of $1,200,000 in establishing its predetermined overhead allocation rate for the year. Actual results showed the following:
The number of direct labor hours worked during the period was ________. (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole number.)
A) 245,000 hours
B) 168,367 hours
C) 163,265 hours
D) 237,575 hours