Answer the following statements true (T) or false (F)
1. The FIFO method of computing equivalent units focuses on production activity in the current period only.
2. If a department that uses process costing starts the reporting period with 100,000 physical units that were 20% complete with respect to direct labor, the equivalent units of direct labor in beginning Work in Process are 20,000.
3. The FIFO method of computing equivalent units includes the beginning inventory costs in computing the cost per equivalent unit for the current period.
4. The FIFO method of computing equivalent units excludes the beginning inventory costs in computing the cost per equivalent unit for the current period.
5. Process and job order manufacturing operations both combine materials, labor, and overhead items in the process of producing products.
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. TRUE
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For an offer to sell goods to be a firm offer, it must have been made orally, the offeror must be a nonmerchant, and it must contain some indication that it will not be revoked.
Answer the following statement true (T) or false (F)
Connesia is a country that has a very warm climate. It also has a scarcity of water. Given this information, which of the following is most likely true??
a. Connesia's image in the international market is unlikely to be affected because petroleum is the only factor that affects international marketing. b. Connesia is likely to depend on other countries for importing foodstuffs. c. Connesia is likely to be an attractive target for military intervention. d. Connesia is likely to export oil to other countries.
What does the government of the Netherlands require of all financial institution employees?
a. Report coworkers not abiding by an oath of integrity. b. Show each customer and client that they have taken an oath. c. Adopt a personal oath of moral behavior. d. Take an oath of integrity.
How would an HR director seek to make a return-on-investment calculation for an ethics training workshop?
What will be an ideal response?