The estimated market value of an asset on its expected disposal date is known as the ____________________
Fill in the blank(s) with correct word
salvage value
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Assume that the balance of accounts payable does not change during a period. When preparing a statement of cash flows, an increase in ending inventory over beginning inventory will result in an adjustment to net income under the indirect approach because
a. the amount of cost of goods sold is equal to the amount of cash paid for purchases. b. consumed inventory is an expense but not a use of funds. c. the amount of cost of goods sold on an accrual basis is less than the amount of cash paid for purchases of inventory. d. the amount of cash paid for purchases of inventory is less than the amount of cost of goods sold on an accrual basis.
The use of ______ groups is increasing because they help specialized departments understand and coordinate with other departments.
a. task b. command c. functional d. cross-functional
At the heart of the code of ethics for the Society of Professional Journalists is demonstration of respect for the dignity, privacy, rights, and well-being of people whom they encounter while seeking and presenting news
Indicate whether the statement is true or false
The inventory of a product has decreased during the month by 12,000 units. Per unit costs are as follows: Variable Fixed Per unit manufacturing costs for the period $10.00 $2.00 Per unit operating expenses of the period $5.00 $1.00 What is the effect on income from operations if absorption costing is used rather than variable costing?
a. $24,000 decrease b. $36,000 increase c. $36,000 decrease d. $24,000 increase