A totten trust may also be referred to as a savings account trust
Indicate whether the statement is true or false
True
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The Model Penal Code has been adopted by only about half of the states.
Answer the following statement true (T) or false (F)
Andrews Corporation purchased 3,00 . gallons of raw materials for $9,200 . The standard price is $3.00 per gallon. If Andrews records the price variance at the earliest possible time, the entry to record the purchase of the material is:
a. Materials 9,200 Material purchase price variance 200 . Accounts payable 9,000 b. Materials 9,000 Accounts payable 9,000 c. Materials 9,000 Material purchase price variance 200 Accounts payable 9,200 d. Materials 9,200 Accounts payable 9,200
If the actual amount of direct materials used equals the standard amount of direct materials that should have been used, the difference between the standard cost and actual cost of direct materials is called the
A) price variance. B) rate variance. C) quantity variance. D) efficiency variance.
A buyer who accepts goods but notifies the seller the goods are non-conforming
a. cannot recover any damages. b. can recover the difference between the goods as promised and as delivered, plus incidental and consequential damages. c. cannot recover incidental damages. d. cannot recover consequential damages.