Answer:
E. avoid using statistics found on the Internet.
Explanation:
Statistics: It is a science of evaluating data collected by using quantified model and presenting the data in a simplified form.
There are six tips of using statistics in our speeches are:
- Use statistics to quantify your ideas
.
- Use statistics sparingly
.
- Identify the sources of your statistics
.
- Explain your statistics
.
- Round off complicated statistics
.
- Use visual aids to clarify statistical trends.
Hence, it never suggest to avoid using statistics found in the Internet as it is one of the source.
Answer:
a.has the right to inspect partnership books and records at all reasonable times.
Explanation:
A general partner is that partner that has responsibility for the actions of the business. The action or inaction of a general partner legally binds the business/partnership to other parties.
The general partner is also personally liable for all the business's obligations.
As such, the general partner has the right to inspect partnership books and records at all reasonable times.
The right option is a,
Answer:
One of the great dangers in allocating common fixed corporate costs is that such allocations can make a product line look less profitable than it really is.
Explanation:
Therefore, care must be exercised so that a product line is not eliminated because the common fixed costs have been allocated to it such that it becomes unprofitable. This is why it is necessary to identify activity cost pools into which such fixed costs can be accumulated and from which they can be allocated to product lines. Using ABC costing approach, for instance, offers a means of escape because the system tries to allocate costs based on the level of usage or consumption of such common costs by each product line instead of using arbitrary allocation formulas.
Answer:
The firm's overhead was $1,000 under-applied
Explanation:
For computing the firm overhead amount, first, we have to compute the predetermined overhead rate. The formula is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $150,000 ÷ 15,000 hours
= $10
Now we have to find the actual overhead which equal to
= Actual direct labor-hours × predetermined overhead rate
= 14,500 hours × $10
= $145,000
So, the firm overhead equals to
= Actual manufacturing overhead - actual overhead
= $146,000 - $145,000
= $1,000 under-applied
C. unpredictable changes in the value of money
