Answer:
A) reclassifying period costs as product costs, means that the company will be able to move some of some costs forward in inventories that would have been recorded as current expenses. With current expenses reduced, the company and
will
Examples of period costs are
- Rent
- Office depreciation
- Office supplies, and
- Utilities
Gallanta actions are unethical. They amount to falsification of accounts and misrepresentation of facts both of which are illegal.
Cheers!
It’s false because marketing is not about producers or consumers
Answer:
$5600
Explanation:
The amount of depreciation expense for year 1
depreciation under the first year under units of activity method
[ (cost - salvage value) / estimated machine hours ] * actual machine hours worked in the first year
= [(70000 - 14000) / 40000 ] * 4000
= 56000 / 40000 ) * 4000
= 1.4 * 4000 = $5600 ( amount of depreciation expense for year 1 )
Answer:
CHECK THE EXPLANATION.
Explanation:
A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning whereas a mixed economy is an economy organized with some free market elements and some socialistic elements, which lies on a continuum somewhere between pure capitalism and pure socialism. ... Mixed economies socialize select industries that are deemed essential or that produce public goods.
Answer:
C) a physical inventory is taken at the end of the period
Explanation:
Under the periodic inventory system, the cost of goods sold is determine at the end of the accounting only after a physical count of the inventory has been made. It requires to physically count the units held in inventory to determine how many were actually sold.
On the other hand, a perpetual inventory system continuously discloses the amount of inventory.