During the year, Fisher Apartments purchased an apartment building to rent to university students. It cost the company $250 to repair damage done by a tenant to one of its units. How should this cost be recorded?
A. It should be recorded as part of the asset account.
B. It should be recorded as repair and maintenance expense.
C. It should not be recorded as the tenants will be charged for the damage.
D. It should not be recorded since this is an immaterial amount to the landlord.
Answer: B
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Which of the following is not a limitation in performing financial statement analysis on a company that uses generally accepted accounting principles?
A) Variety of methods used by different companies. B) Use of estimates by a company. C) Use of assumptions by a company. D) Use of technology by a company.
John was anxious to hire three new recruits for his marketing department in Northern Ireland. As a good Roman Catholic, John was intent on hiring employees who shared his same religious values and beliefs. John's workforce already consisted of 70% Roman Catholics, if John hires three new Roman Catholics will John be out of compliance with the law in Northern Ireland?
a. Yes he will be breaking the law because John is required to hire both Roman Catholics and Protestants. b. No he will not be breaking the law, as a business owner he can hire who ever he believes is right for his company c. He could potentially be breaking the law since his composition of Protestants and Roman Catholics must be equal to the proportions in the population at large. d. No he will not be breaking the law as long as he makes sure he hires both male and female genders.
If you change the control limits from ±3 standard errors from the centerline to ±2 standard deviations from the centerline, this ____________________ the probability of a Type I error and ____________________ the probability of a Type II error
Fill in the blank(s) with correct word
What are 3 common wage and salary increases?