If a company uses the allowance method of accounting for bad debts, which one of the following statements is true?
a. It violates the matching principle.
b. It will record bad debts only when an account is determined to be uncollectible.
c. It will reduce the accounts receivable at the end of the accounting period for estimated uncollectible accounts.
d. It will report accounts receivable in the balance sheet at their net realizable value.
d
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Which of the following does not contribute to the establishment of an international division?
A) An organizational unit should be headed by a committed senior manager. B) Complexity of international operations to make its own decisions. C) Recognition of the need for internal specialists. D) A lack of desire by management to scan the globe for opportunities and threats. E) Assembling a staff that will take the responsibility to coordinate.
All companies should practice one-to-one marketing
Indicate whether the statement is true or false
Columbo Corporation has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: FormingFinishingMachine-hours 17,000 10,000Direct labor-hours 1,000 9,000Total fixed manufacturing overhead cost$110,500$78,300Variable manufacturing overhead per machine-hour$1.60 Variable manufacturing overhead per direct labor-hour $3.30During the current month the company started and finished Job A948. The following data were recorded
for this job:Job A948:FormingFinishingMachine-hours 70 30Direct labor-hours 10 50Direct materials$650$330Direct labor cost$380$1,900If the company marks up its manufacturing costs by 40% then the selling price for Job A948 would be closest to: (Round your intermediate calculations to 2 decimal places.) A. $6,197.80 B. $6,818.00 C. $4,427.00 D. $1,770.80
The parties may decide that their contract is not the one they want. They may then replace it with another contract. If they do, the original contract is discharged by __________.?
A) solution B) elocution C) retribution D) substitution