Accounting systems are only computerized
Indicate whether the statement is true or false
False
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What is the doctrine of liability for a tort connected with a contract?
Melanie, a homeowner, has mortgage interest of $3,000, real estate taxes of $1,500, and charitable contributions of $500. According to her filing status, a standard deduction of $6,300 is allowed
How much should Melanie deduct on her tax return? A) $5,000 B) $6,300 C) $6,700 D) $7,700
Diehl Corporation uses a standard cost system in which it applies manufacturing overhead to units of product on the basis of standard direct labor-hours. The company's total applied factory overhead was $315,000 last year when the company used 32,000 direct labor-hours as the denominator activity. If the variable factory overhead rate was $8 per direct labor-hour, and if 30,000 standard direct labor-hours were allowed for the output of the year, then the total budgeted fixed factory overhead for the year must have been: (Round your intermediate calculations to 2 decimal places.)
A. $90,000 B. $80,000 C. $100,000 D. $60,000
Transfer or expropriation of wealth from bondholders to stockholders is less likely to occur when:
A) subordinated straight debt is issued because the senior bondholders provide protection for the subordinated bondholders. B) convertible debt is issued because the equity component will reduce agency costs. C) convertible debt is issued because the holders can more readily sue when a high-risk project is undertaken. D) subordinated debt is issued because monitoring is much easier when subordinated straight debt is issued. E) straight debt is issued because there is a clearer distinction between creditors and shareholders.