Which of the following is considered an unusual item affecting the prior period's income statement?
A) Fixed asset impairments
B) Errors
C) Extraordinary item
D) Discontinued operations
B
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In Activity-based costing, the activity rates that are used to charge costs to each job are based on:
a. the direct labor hours incurred by each activity. b. the number of units produced. c. each activity's consumption of the resources required to sustain it. d. volume related cost drivers.
Which agency under the Occupational Safety and Health Act primarily functions as a research facility?
A) Occupational Safety and Health Administration B) National Institute for Occupational Safety and Health C) Occupational Safety and Health Review Commission D) National Labor Relations Board
The general fund of Hatteras acquired a fire truck during the fiscal year ended June 30, 20X9. The purchase order for the fire truck was recorded on February 15, 20X9. Hatteras' acquisition of the fire truck required which of the following sequences of accounting activities?I. Appropriation II. Encumbrance III. Expenditure
A. III, II, I. B. I, II, III. C. I, III, II. D. II, I, III.
The executor of the Estate of Kate Tweed discovered the following assets (at fair value): Cash$104,000 Interest receivable 7,800 Life Insurance policy 390,000 Residence 260,000 Shares of PepsiCo 65,000 Shares of Apple 143,000 Shares of Kenyan Lake 182,000 ??The will of Kate Tweed had the following provisions:? $195,000 in cash went to Victor Vickery. ? All shares of PepsiCo went to Duchess Doyle. ? The residence went to Louis Tweed. ? All other estate assets were to be liquidated with the resulting cash going to the Sacred Church of Liberty, Missouri.?Administrative expenses of $13,000 were paid. Prepare the journal entry to record the transaction.
What will be an ideal response?