Answer:
The correct answer is A.
Explanation:
Giving the following information:
The retail value of the inventory is $478,000. The ratio of cost to retail price is 60%. What is the amount of inventory to be reported on the financial statements?
Inventory= 478,000*0.60= $286,800
Answer:
False
Explanation:
During a sequential product development, each department works to complete its stage before the process continues to the next department.
A team-based new product development approach is used to develop products faster and to be able to sell them faster. This approach does not require that each department finishes its stage before passing to the next one. Instead, several departments work together simultaneously.
Answer:
The answer is: Substitution bias
Explanation:
In plain simple words, substitution bias refers to the fact that the CPI considers that customers have to buy the same item and in the same quantity each month. That is something rarely happens in "normal" life. The CPI uses a fixed basket of products, that someone for some reason determined was the most representative basket of products a family buys every month. But what happens if consumers decide to not follow this given basket of goods or decides to substitute some of its products for others (instead of Coke I might decide to buy Pepsi because it offers me a 15% discount).
Answer:
c. credit to Additional Paid-in Capital
Explanation:
The journal entry to record the difference is shown below:
Cash A/c Dr $75 million
To Treasury stock A/c $70 million (1 million shares × $70 per share)
To Additional paid in capital - in excess of par $5 million
(Being the issuance of treasury stocks is reported and the amount remaining is credited to the additional paid-in capital account)
