A person who has not worked in six months and has given up looking for work is officially classified as unemployed. true false

Net income under absorption costing is gross profit less Select one: a. cost of goods sold. b. fixed manufacturing overhead and fixed selling and administrative expenses. c. fixed manufacturing overhead and variable manufacturing overhead. d.

Which one of the following is a primary benefit of budgeting? It removes the 'plan ahead' from lower level managers so that they can focus on operations. It eliminates the need for coordination of activities throughout the company.

In February 2012, Light Full Foods Inc. in San Francisco developed Light Full Satiety Smoothies, which are shelf-stable, all-natural, dairy-based smoothies for adult women. Adult women are the smoothie manufacturer's:A. marketing mix. B.

The following amounts were reported on the December 31, 2019, balance sheet: Cash $ 16,000 Accounts receivable 44,000 Common stock 80,000 Wages payable 10,000 Retained earnings 160,000 Land 40,000 Accounts payable 30,000 Bonds payable 240,000

On October 1, 2018, Ellington Company establishes an imprest petty cash fund by issuing a check for $200 to Erin Angelo, the custodian of the petty cash fund.

Sundance Systems has the following transactions during July. July 5 Purchases 56 LCD televisions on account from Red River Supplies for $3,300 each, terms 3/10, n/30. July 8 Returns to Red River two televisions that had defective sound.

Landow Company uses variable costing for internal purposes and wants to restate income to that of absorption costing for external reporting purposes. Landow's income under variable costing is $630,000.

The students in Mrs. Reed's English class are reading the same $760$-page novel. Three friends, Alice, Bob and Chandra, are in the class. Alice reads a page in $20$ seconds, Bob reads a page in $45$ seconds and Chandra reads a page in $30$ seconds.

Which of the following would not be included in calculating the incremental cash flow for a project? The firm expects sales of the new product to be $5,000,000 per year.

The type of uncertainty that is in operation when an entrepreneur takes a gamble on an as yet non-existent market is called ambiguity. True False