The bank promises to pay on behalf of the exporter when a bank is used as a third party in international transactions.

a. True

b. False

The following data relate to direct labor costs for the current period: Standard costs 7,300 hours at $11.60 Actual costs 6,000 hours at $10.40 The direct labor time variance is a.$15,080 unfavorable b.$13,520 favorable c.$13,520 unfavorable d.

Which of the following is true of workers' compensation? A worker who receives workers' compensation cannot sue his or her employer. Workers' compensation is awarded as punitive damages of a lawsuit initiated by an injured employee.

The type of budget that budgets standard costs for the actual volume of production is a

A transportation firm whose services are available to all shippers is a common carrier. a. true b. false

Sanchez Company's output for the current period was assigned a $419,000 standard direct labor cost. The direct labor variances included a $10,475 unfavorable direct labor rate variance and a $4,190 favorable direct labor efficiency variance.

The budgeted production of Capricorn, Inc. is 13 comma 000 units per month. Each unit requires 40 minutes of direct labor to complete. The direct labor rate is $ 100.00 per hour. Calculate the budgeted cost of direct labor for the month.

If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was about 3 percent. a) true b) false

Journalize the entries to record the following selected transactions: Sold $62,800 of merchandise on account, subject to a sales tax of 5%. The cost of the merchandise sold was $37,500.

Which of the following is a factor to be considered in determining a limited-life intangible asset's useful life? (a) Any legal provisions that may limit the useful life. (b) The expected useful life of any related asset.

If you see a large group of stranded passengers standing next to a disabled bus, and you have only three seats in your car, deciding who to rescue deals with the issue of:a) efficiencyb) equityc) scarcityd) macroeconomics