In 1971, nixon imposed wage and price controls in an effort to curb inflation.

a. True

b. False

During her career at focus international, a large textile producer, sheila has observed a shift in decision making authority. top management no longer makes all of the decisions, resulting in a more decentralized structure.

In the new department she is setting up, Shondra decides that top managers will report to her and that everyone else will report to the head of human resources.

During the year Sea Corporation reported gross income operations of $100,000 and operating expenses of $150,000. Sea Corporation also received dividend income of $90,000 from a domestic corporation in which Sea is a 20% shareholder.

The budget for the month of May was for 11,200 units at a direct materials cost of $19 per unit. Direct labor was budgeted at 28 minutes per unit for a total of $100,800.

When adding fields to a form, press Ctrl+F8 to show or hide the Field List. a. True b. False

A plant asset was purchased on January 1 for $54000 with an estimated salvage value of $6000 at the end of its useful life.

Loring Company had the following data for the month:Variable costs per unit:Direct Materials $4Direct Labor 3.20Variable Overhead 1Variable selling expense 0.

Summer Nights sells bottles of bug spray for $8.00 each. Variable costs are $2.00 per bottle, while fixed costs are $40,000 per month for volumes up to 40,000 bottles of spray and $58,000 per month for volumes above 40,000 bottles of spray.

5 years ago, Barton Industries issued 25-year noncallable, semiannual bonds with a $900 face value and a 12% coupon, semiannual payment ($54 payment every 6 months). The bonds currently sell for $845.87.

Under the allowance method of accounting for uncollectible accounts, Bad Debt Expense is debited a. when a credit sale is past due. b. whenever an account is deemed worthless. c. whenever a predetermined amount of credit sales has been made. d.