The statement "The process cost summary presents calculations of the cost of units completed during the reporting period, but does not present any information about the ending goods in process inventory" is False
Explanation:
An overview of the cost of the process is a manufacturing report which shows the costs, generated units and the cost for production models of a department. This report, in other words, summaries all of the department or process ' manufacturing activities.
The specific production processes and related expenses must first be established to assess a cost of production in a process costing system. The total costs per process over the duration must be calculated by the amount of units produced during that time until processes and expenses are recognised.
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Answer:
D. Limited Partnership
Explanation:
Sole proprietorship is business owned , run & managed by single owner. Partnership is a business owned , run & managed by small group of people - deciding to share its profits .
Entrepreneurs in these have Unlimited Liability on personal assets, in case business assets are insufficient to settle business liabilities .
Corporation is a separate legal entity, distinct from its huge group of owners , guided by a board of directors. In case of any claim / sue case : it is against corporate entity & not the people, so they don't have any unlimited liability risk on personal assets to fulfil company's claims .
Answer:
2.42 times
Explanation:
The computation of the acid test ratio is shown below:
Acid test ratio = Quick Assets ÷ Current liabilities
where,
Quick Assets = Cash + short term investment + account receivable
= $4,500 + $50,500 + $66,000
= $121,000
And, the current liabilities is $50,000
So the acid test ratio is
= $121,000 ÷ 50,000
= 2.42 times
Basically we applied the above formula to find out the acid test ratio
Answer: Critical resources
Explanation:
The critical resources are the types of resources that are only used for one time when the schedule gets increased and it basically refers to the time when the resources become overloaded.
According to the question, the Remington arms basically analyzing its specific capacity for exploiting the various types of new products and the services in the market.
In this process, the organization is typically evaluating its available capital in an organization and the various types of technical and the management expertise.
Therefore, Critical resources is the correct answer.
