In the context of cost containment, which of the following best describes the practice of "copay"?
A. Controlling costs through policies such as seeking competitive bids for program delivery
B. Limiting disability income payments to some maximum percentage of income
C. Negotiating the lowest possible fees by providers
D. Requiring that employees pay a fixed or percentage amount for coverage
Answer: D
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Newport Company has sales of $2,025,000 for the current year. The book value of its fixed assets at thebeginning of the year was $550,000 and at the end of the year was $800,000 . The fixed asset turnover ratio forNewport is
a. 3.0 b. 3.6 c. 2.5 d. 3.7
Lester Company purchases a piece of equipment on Jan. 2, 2010, for $30,000 . The equipment has an estimated life of eight years or 50,000 units of production and an estimated residual value of $3,000 . Lester uses a calendar fiscal year. The entry to record the amount of depreciation for 2010, using the straight-line method, is:
a. Depreciation Expense– Equipment 3,750 Cash 3,750 b. Depreciation Expense — Equipment 3,375 Accumulated Depreciation– Equipment 3,375 c. Depreciation Expense — Equipment 2,500 Accumulated Depreciation– Equipment 2,500 d. Accumulated Depreciation - Equipment 2,250 Cash 2,250
An item or event that has a cause-effect relationship with the incurrence of a variable cost is called a
a. mixed cost. b. predictor. c. direct cost. d. cost driver.
A company has only one product line: all the company manufactures is supercomputers. This one product line is also the company's ________
A) branding strategy B) marketing mix C) product mix D) promotional mix E) brand equity