Which of the following is a function of supplier scheduling and follow-up?
A) establishing specifications
B) selecting suppliers
C) taking corrective action on issues
D) negotiation
E) price determination
C
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The board of directors declared a $2 per share cash dividend on common stock and the corporation had 5,000 shares authorized and 4,000 shares outstanding and make a journal entry. The journal entry for the dividend payment would be
a. a debit to Cash Dividends for $8,000 and a credit to Common Dividends Payable for $8,000. b. a debit to Cash Dividends for $10,000 and a credit to Common Dividends Payable for $10,000. c. a debit to Cash Dividends Payable for $8,000 and a credit to Cash for $8,000. d. a debit to Cash Dividends Payable for $10,000 and a credit to Cash for $10,000.
Swisher, Incorporated reports the following annual cost data for its single product:Normal production level 30,000unitsDirect materials$6.40per unitDirect labor$3.93per unitVariable overhead$5.80per unitFixed overhead$150,000in total This product is normally sold for $48 per unit. If Swisher increases its production to 50,000 units, while sales remain at the current 30,000 unit level, by how much would the company's income increase or decrease under absorption costing?
A. $60,000 increase. B. $90,000 increase. C. There is no change in income. D. $90,000 decrease. E. $60,000 decrease.
An agency relationship can be created by:
a. an express contract. b. an implied contract. c. an express contract, but not an implied contract. d. both by an express contract and an implied contract.
Your home insurance policy has a $250 deductible. If a small fire causes $600 damage to your home, what amount of the claim would the insurance company pay?
A) $250 B) $350 C) $450 D) $600