Which of the following statements is correct regarding a common stock offering that requires registration under the Securities Act of 1933?
a. The registration statement is automatically effective when filed with the SEC.
b. The issuer would act unlawfully if it were to sell the common stock without providing the investor with a prospectus.
c. The SEC will determine the investment value of the common stock before approving the offering.
d. The issuer may make sales 10 days after filing the registration statement.
.B
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Frank and Brooke manage separate departments at Vantage Corporation. Frank's department is in charge of production of products, while Brooke's is responsible for sales of products. One of the company's objectives is to minimize its investment in inventory. Whose set of responsibility reports should include the cost of storing goods awaiting sale?
What will be an ideal response?
A process costing system
a. cannot use standard costs. b. restates Work in Process Inventory in terms of completed units. c. accumulates costs by job rather than by department. d. assigns direct labor and manufacturing overhead costs separately to units of production.
Kota Toy Corporation manufactures lizard dolls in two departments, Molding and Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls that come out of the molds are then transferred to the Assembly Department where hair is applied. Kota uses a weighted-average process cost system to collect costs in both departments.On January 1, the Molding Department had 4,000 dolls in process. These dolls were 100% complete with respect to direct materials and 70% complete with respect to conversion cost. During January, Molding completed 79,000 dolls. On January 31, Molding had 7,000 dolls in work in process. These dolls were 100% complete with respect to direct materials and 25% complete with respect to conversion cost.How many dolls were started in the Molding
Department during January? A. 86,000 B. 76,000 C. 82,000 D. 75,000
Current ratio is computed by dividing the ________ by the current assets
a. current liabilities b. working capital c. current stock d. long–term debt