In running a home business, it is important to keep accurate financial records. true false

Which one of the following is considered a consumer fraud scheme?

Tuna eat sardines and other small fish. Suppose the consumption efficiency of tuna is 40%, the assimilation efficiency is 30%, and the production efficiency is 20%.

Triboro Computer Systems, Inc., manufactures printer circuit cards. All direct materials are added at the inception of the production process. During January, the accounting department noted that there was no beginning inventory.

Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the year (before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $12,900.

1. When information about two different enterprises has been prepared and presented in asimilar manner. the information exhibits the characteristic ofA. relevance. B. faithful representationC. consistency. D. None of these answer choices are correct.

Suppose that a firm produces 200,000 units a year and sells them all for $10 each. The explicit costs of production are $1,500,000 and the implicit costs of production are $300,000. The firm has an accounting profit of: a.

John has applied overhead of $80,000 and actual overhead of $70,600 for the month of November. He applies overhead based on direct labor hours, and that amounts to 10,000 hours for the month of November.

Under market organization, individuals can communicate their preferences to other decision makers directly, through communication, but not indirectly, through their choice of whom to transact with. A) True B) False

If you die without a valid will: the federal court decides how the property should be distributed. the IRS confiscates your property. your relatives or friends will get the property. the state's law of descent and distribution becomes your will.

A service economy is one in which more effort is devoted to the production of goods than to the production of services. a. true b. false