The contingency approach to management is based on the idea that there is no single best way to manage. Contingency refers to the immediate contingent circumstances. Effective organizations must tailor their planning, organizing, leading, and controlling to their particular circumstances.
Answer: Please refer to Explanation
Explanation:
When recording Equipment here the value of the shares at current value should be used and not the cost of the equipment.
DR Equipment $162,250
CR Investment in Pharaoh Company $137,500
CR Gain on Exchange $24,750
(To record Exchange of shares for Equipment)
Workings.
Investment in Pharaoh Company.
= 2,750 shares * $50(purchase price)
= $137,500
Gain on Exchange
= 2,750 shares * (Market Price - Purchase Price)
= 2,750 shares * ( 59 - 50)
= $24,750
Equipment.
= Investment in Pharoah Company + Gain on Exchange
= 137,500 + 24,750
= $162,250
If you miss your court date or trial, the court could choose to issue an arrest warrant. In most cases, you will definitely be charged with a failure to appear violation. This additional violation carries another fine in addition to the fine for the original traffic ticket.
I think I would have to stick with either A or B it can be those two but C and D are wrong.
Answer:
Statement A - false
Statement B- true
Statement C- true
Statement D- false
Explanation:
An accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process is referred to as Process costing.
In Process costing, costs are assigned to products, usually in a large batch, which might include an entire month's production. Costs are eventually allocated to individual units of product.
Process costing is a method of assigning costs to units of production in companies producing large quantities of homogeneous products.
a. False- When a single product is made on a continuous basis, Process costing is used . The units produced are identical, i.e homogeneous in nature.
b. True- In the process costing is a method, the cost per unit is obtained by first accumulating costs for the entire period for each process or department, and they divide the accumulated costs by the number of units produced (tons, pounds, gallons, or feet) in that process or department.
c. True- Process minus costing approach is a method of assigning costs to units of production in companies producing large quantities of homogeneous products. Thus, the approach does not distinguish between individual units of product.
d. False - Process minus costing systems rather uses a multiple Work minusInminus Process Inventory account because it has a Work in Process Inventory account for each department or process.
