Answer: E) Both answers B and D are correct.
Explanation:
Inflation using the Consumer Price Index is calculated by;
= (CPI in current year - CPI in previous year) / CPI in previous year
Year 2 Inflation = (100 - 90) / 90
= 11%
Year 3 Inflation = (110 - 100) / 100
= 10%
Surpluses push the price down toward the equilibrium and shortages raise the price to the equilibrium
Answer:
Sole Purpose Shoe Company
The reason for Sarah to want to use standard costs to compare with her actual costs is:
A) Management can evaluate the differences between standard costs and actual costs to focus on correcting the cost variances.
Explanation:
Standard costs provide a control technique for evaluating the Sole Purpose Shoe Company's performance at three levels: a standard performance level, a measure of actual performance, and a measure of the difference (variance) between standard and actual costs. Sarah will use the variance resulting from the comparison of standard costs with actual costs to measure the non-financial performance of the entity.
Answer:
a professional organization
Explanation:
A professional organization is formed to promote the growth of the profession and advance the interest of people working in that profession.
A professional organization is also known as a professional association. It facilitates communication and connection among its professionals. It supports innovations and creativity that help develop and grow the profession. Through their regular meeting, members of a profession share information on the trending issues, opportunities, and challenges affecting the profession.
Answer:
A) $450.
Explanation:
The computation of the total deductible amount of the expenses is as follows:
In the case of the deduction with respect to the meal cost and entertainment. Only the half of the expense would be deducted i.e. for the business meeting
As in the question the opera tickets is $900 so the half of $900 i.e. $450 would be allowed as a deduction
Therefore the correct option is A.
