The services that government provides would not be produced by private business firms or would be produced only for those who could afford them.
Answer the following statement true (T) or false (F)
True
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A question that respondents can answer in an almost unlimited number of ways is called a ________
A) structured question B) closed-end question C) completely unstructured question D) dichotomous question E) multiple choice question
Transportation charges paid to ship purchases are credited to Freight-In
Indicate whether the statement is true or false
Nevada Enterprises purchased a machine on January 2, 2013 . at a cost of $140,000 . An additional $70,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a salvage value of $40,000 . As a result of the error,
a. retained earnings at December 31 . 2014, was understated by $34,000 and 2014 income was overstated by $6,000. b. retained earnings at December 31 . 2014, was understated by $42,000 and 2014 income was overstated by $6,000. c. retained earnings at December 31 . 2014, was understated by $34,000 and 2014 income was overstated by $14,000. d. 2013 income was understated by $70,000.
When assessing performance, one way to compensate for differences among divisions of a multinational organization would be for the parent company to
a. use different target rates of return to compute residual incomes. b. modify the return on investment calculation so that foreign currency fluctuations are removed from all financial statement figures. c. classify all domestic divisions as investment centers and all foreign divisions as profit centers. d. use financial performance measures for units whose records are kept in the domestic currency and non-financial measures for units whose records are kept in a foreign currency.