Income ________ when there is zero beginning inventory and all inventory units produced are sold.
A) Will be lower under variable costing than absorption costing
B) Will be the same under both variable and absorption costing
C) Will be higher under variable costing than absorption costing
D) Will be higher than gross margin under variable costing
B) Will be the same under both variable and absorption costing
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An increase in the risk of material misstatement would lead to which of the following responses?
a. Increase in the extent of auditing procedures. b. Decrease in the extent of auditing procedures. c. No change in the extent of auditing procedures. d. No change in the extent of audit procedures.
What is the first step in effective research?
A) Conduct a Google search to see what information is available. B) Plan the research. C) Manage information efficiently. D) Locate the data and information needed. E) Apply each finding to the report or proposal.
Which sentence is correctly punctuated?
A) ?The need for a certified technician; unfortunately, can't be met until our present personnel receive additional training. B) The update of the computer mainframe, unfortunately, caused us to lose some of our documents. C) It is, unfortunate, that we cannot meet until next week.
Michelle purchased her home for $150,000, and subsequently added a garage costing $25,000 and a new porch costing $5,000. Repairs to the home's plumbing cost $1,000. The adjusted basis in the home is
A) $150,000. B) $151,000. C) $180,000. D) $181,000.