A homeowner has a contract with a firewood supplier to bring a stack of hardwood at the beginning of each month from October through March. If the supplier has brought a mixture of hard and soft woods for the first three deliveries and the homeowner accepted the deliveries, the homeowner cannot reject a delivery in January just because it includes some soft wood.
Answer the following statement true (T) or false (F)
True
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Which statement is true?
a. ERPs are infinitely scalable. b. Performance problems usually stem from technical problems, not business process reengineering. c. The better ERP can handle any problems an organization can have. d. ERP systems can be modified using bolt-on software.
Another name for equity is:
A. Net assets. B. Net loss. C. Expenses. D. Net income. E. Revenue.
Which of the following is true regarding discontinued operations?
a. If a loss is expected on disposal, the estimated loss is recognized in the financial statements as of the measurement date. b. If a loss is expected on disposal, the estimated loss is recognized in the financial statements as of the disposal date. c. If a loss is expected on disposal, recognition is deferred until realization. d. If a gain is expected on disposal, the estimated gain is recognized in the financial statements as of the measurement date.
Black Hills Manufacturing has two processing departments, Department I and Department II
During the year, direct materials worth $38,000 purchased on account were assigned to Department I. At the end of the year, when the production cost report for Department I was prepared, Black Hills assigned $40,000 to the units transferred from Department I to Department II. The journal entry to record the transfer of units to Department II will ________. A) debit Work-in-Process Inventory-Department II for $38,000 and credit Work-in-Process Inventory-Department I for $38,000 B) debit Work-in-Process Inventory-Department I for $40,000 and credit Work-in-Process Inventory-Department II for $40,000 C) debit Work-in-Process Inventory-Department I for $38,000 and credit Work-in-Process Inventory-Department II for $38,000 D) debit Work-in-Process Inventory-Department II for $40,000 and credit Work-in-Process Inventory-Department I for $40,000