The Hillsdale High School hockey team won ____ state championships
A) back-to-back
B) back to back
C) backtoback
A
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The auditor selects a sample of asset disposals and examines the sales documentation evidencing disposal of the equipment and recomputes gain or loss on the disposal. This audit steps primarily tests which of the following assertions for the equipment account?
a. Existence. b. Presentation and disclosure. c. Rights. d. Valuation.
Dori Castings is a job order shop that uses a standard cost system. Manufacturing overhead costs are applied on the basis of standard direct labor-hours.The amount of fixed manufacturing overhead that Dori would apply to finished production would be:
A. the actual direct labor-hours times the standard fixed manufacturing overhead rate per direct labor-hour. B. the standard hours allowed for the actual units of finished output times the standard fixed manufacturing overhead rate per direct labor-hour. C. the actual fixed manufacturing overhead cost per direct labor-hour times the standard hours allowed. D. the standard units of output for the actual direct labor-hours worked times the standard fixed manufacturing overhead rate per unit of output.
During 2017, Von Co. sold inventory to its wholly-owned subsidiary, Lord Co. The inventory cost $30,000 and was sold to Lord for $44,000. For consolidation reporting purposes, when is the $14,000 intra-entity gross profit recognized?
A. When Lord pays Von for the goods. B. When goods are transferred to a third party by Lord. C. When Von sold the goods to Lord. D. When Lord receives the goods. E. No gain can be recognized since the transfer was between related parties.
The activism of institutional investors in other countries has been spearheaded by:
A. U.S.-based pension and mutual funds that in recent years acquired large stakes in foreign countries. B. Managers who became less active in proxy battles on a global level. C. Foreign institutions that were granted new rights by their governments. D. The rising number of individual investors in public service companies.