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4 years ago

Indicate whether the following statements are true or false.

Business

1 answer:

dezoksy [38]4 years ago

7 0

Answer:

1. False,

2. False,

3. False,

4. True

Explanation:

1. Managerial accounting reports focuses on entire net profit and not specifically the manufacturing and non manufacturing cost, and are not specifically used in the budget process.

2. No financial accounting reports all the finance related issues in details but is not divided into sub units.

3. No managerial reports are not audited, they are for internal controls and are to follow GAAP but not mandatory requirement for audit.

4. Managers are responsible for the management of business, for this the main three steps are: Planning Directing and controlling.

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Charlie is a manager who, every week, has to review and approve reports, monitor the performance of subordinates, set the vision

Illusion [34]

Charlie is a manager who, every week, has to review and approve reports, monitor the performance of subordinates, set the vision and goals for the team, set the structure for the team, and communicate with executives. However, Charlie seems to be in meetings all of the time and has little time to review and approve reports. Charlie is most likely experiencing a hard time at work

<h3>Who is a manager?</h3>

A manager is a leader who have people who directly reports to him. He is charged with the duty of supervision am ensuring that a company goal and objective is achieved.

Therefore, Charlie seems to be in meetings all of the time and has little time to review and approve reports. Charlie is most likely experiencing a hard time at work.

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6 0

2 years ago

On 1/1/2010, Fikle Corporation issued $3,000,000 of 10% bonds due December 31, 2019. Interest on the bonds is payable annually e

xeze [42]

Answer:

Hi!

Explanation:

I advise you to visit this resource. Otherwise, brains begin to boil - http://mavizion.com

6 0

3 years ago

g In the Shaping Department of Crane Company the unit materials cost is $2.00 and the unit conversion cost is $1.50. The departm

3241004551 [841]

Answer:

$3,450

Explanation:

Step 1 : Equivalent units of production in work in process

Materials = 1,500 x 100 % = 1,500

Conversion Costs = 1,500 x 20 % = 300

Step 2 : Cost to be assigned to the ending work in process

Materials (1,500 x $2.00) $3,000

Conversion (300 x $1.50) $450

Total $3,450

Conclusion

the total cost to be assigned to the ending work in process is $3,450.

3 0

3 years ago

Wims, inc., has current assets of $6,000, net fixed assets of $25,100, current liabilities of $4,950, and long-term debt of $12,

loris [4]

Total assets = Current assets + Fixed Assets

Total assets = 6000+25100

Total assets = 31,100

Total liabilities = Current liabilities + Long term debt

Total liabilities = 4950+12000

Total liabilities = 16,950

According to accounting equation, stockholder's equity = Total assets - total liabilities

Stockholder's equity = 31,100-16,950 = 14,150

Value of Stockholder's equity = $14,150

3 0

4 years ago

Pina Colada Corp bought equipment on January 1, 2017. The equipment cost $490000 and had an expected salvage value of $70000. Th

Olenka [21]

Answer:

$322,000

Explanation:

For computing the book value at the beginning of the third year first we have to determine the depreciation expense using the straight-line method which is shown below:

= (Original cost of equipment - expected salvage value) ÷ (estimated life)

= ($490,000 - $70,000) ÷ (5 years)

= ($20,000) ÷ (5 years)

= $84,000

In this method, the depreciation is same for all the remaining useful life

For two years, the accumulated depreciation is

= $84,000 × 2

= $168,000

So, the book value is

= $490,000 - $168,000

= $322,000

This is the answer but the same is not provided in the given options

7 0

3 years ago