Monica has $500 to spend and wants to buy either a new snowboard or a new laptop. both the snowboard and the laptop cost around $500, so she can only buy one. this illustrates the basic concept that:

In accounting, emphasis is placed on determining net income in accordance with generally accepted accounting principles. In finance, the primary emphasis is also on net income because that is what investors use to value the firm.

Ekmark Corporation uses the following activity rates from its activity based costing to assign overhead costs to products: Activity Cost Pools Activity Rate Assembling products $6.56 per assembly hour Processing customer orders $65.

A firm with a flexible short-term financial policy will: Multiple Choice have tight restrictions on granting credit to customers. maintain a low balance in accounts receivables. have low cash balances.

After completing his competitor analysis, Justin realized his company was the only one with all-natural ingredients in their pizza crust and could use this to get the pizza into more health food grocery stores.

You are the project manager for Insomniacs International. Since you don't sleep much, you get a lot of project work done.

Total depreciation expense over an asset's useful life will be identical under all methods of depreciation.

Mike and Lon came to a party together. A friend offered Mike a ride home. However, there was no room in the car for Lon. What are Mike's choices?

Milton, Inc. had the following transactions in 2019, its first year of operations:• Issued 8000 shares of common stock. Stock has par value of $0.01 per share and was issued at $40.00per share.• Earned net income of $200,000.• Paid dividends of $8.

What advertising technique involves the use of positive words without actually really making any guarantee

Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $4,500 of cash sales that are subject to an 6% sales tax, what is the journal entry to record the cash sales