Which of the following is not a factor that directly affects the budget for a discretionary cost?
a. the importance of the activity to the achievement of the organization's goals
b. last period's budget
c. the expected level of operations
d. managerial negotiations in the budgeting process
B
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In a process costing system, percentage-of-completion factors normally are obtained from
a. accounting records. b. job order cost cards. c. supervisors in the production departments. d. time cards.
An asset created by prepayment of an insurance premium is:
A. Recorded as a credit to Unearned Revenue. B. Not recorded in the accounting records until the insurance period expires. C. Recorded as a debit to Prepaid Insurance. D. Recorded as a credit to Prepaid Insurance. E. Recorded as a debit to Unearned Revenue.
U.S. GAAP specifies criteria for a capital lease. Which of the following is not one of the criteria?
a. The lease transfers ownership of the leased asset to the lessee at the end of the lease term. b. Transfer of ownership at the end of the lease term seems likely because the lessee has a bargain purchase option. c. The lease extends for at least 75% of the asset's expected useful life. d. The present value of the contractual minimum lease payments equals or exceeds 75% of the fair value of the asset at the time the lessee signs the lease using a discount rate appropriate for the creditworthiness of the lessee. e. The present value of the contractual minimum lease payments equals or exceeds 90% of the fair value of the asset at the time the lessee signs the lease using a discount rate appropriate for the creditworthiness of the lessee.
What is the primary target market for a best-cost provider?
A. value-conscious buyers B. value-hunting buyers C. brand-conscious buyer D. price-conscious buyers E. best-price driven buyers