3) How many separate cost pools should be formed given the following information? CostCost driver Postage costs# of brochures mailed Printing and paper costs# of brochures mailed Quality control costs# of inspections Customer service costs# of customers served A) 1 cost pool B) 2 cost pools C) 3 cost pools D) 4 cost pools 4) Place the following steps in order […]
96. Skyline, Inc. purchased a portfolio of trading securities during 2010. The cost and fair value of this portfolio on December 31, 2010, was as follows: Name Number of Shares Total Cost Total Fair Value Alcon, Inc. 1,200 $16,000 $15,000 Easton Company 700 23,000 21,500 Panther Company 300 9,000 9,200 Total $48,000 $45,700 On April 3, 2011, Skyline, Inc. purchased […]
Short Answer Questions 83. The consulting firm of Martin and Associates uses the accounts listed below. On a separate sheet of paper, set up T accounts for each of the accounts listed and record the balances on the normal balance side of the accounts. The firm has the following transactions during the month of December 2013. Record the effects of these […]
44. Topper Corporation has 60,000 shares of $1 par value common stock and 16,000 shares of cumulative 7%, $100 par preferred stock outstanding. Topper has not paid a dividend for the prior year. If Topper declares a $1.95 per share dividend this year, what will be the total amount they must pay their shareholders? A. $117,000. B. $341,000. C. $327,000. D. $177,000. 45. Which of the following […]
41.Public corporations are required by law or regulation to perform all of the following except: A. Submit much of their financial information to the SEC for review. B. Make regularly scheduled dividend payments to all stockholders. C. Have their annual financial statements audited by an independent CPA. D. Disclose their financial information to the public. 42.Which of the following apply […]
81. Under the _____ procedure, the firm estimates and recognizes its bad debt expense; the offsetting credit increases the balance in the Allowance for Uncollectibles. Under the _____ procedure, the firm estimates the ending balance in the Allowance for Uncollectibles account and makes a credit entry to bring the balance to this amount; the offsetting debit is to Bad Debt Expense. A. aging; percentage-of-sales […]
5) Which of the following will increase a company’s breakeven point? A) increasing variable cost per unit B) increasing contribution margin per unit C) reducing its total fixed costs D) increasing the selling price per unit 6) Assume there is a reduction in the selling price and all other CVP parameters remain constant. This change will: A) increase contribution margin B) reduce fixed costs […]
51. The income statement is not also called the statement of A. operations B. operating activity C. profit and loss D. receipts and disbursements E. All of the above are different names assigned to the income statement. 52. _____ present an ordered list, grouped by broad categories of revenues and expenses. They begin with revenues followed by a list of expenses. A. Income Statement B. Balance Sheets C. Statement of […]
16) ________ is the amount of time from when a customer places an order for a product or requests a service to when the product or service is delivered to the customer. A) A bottleneck B) A time driver C) Customer response time D) Manufacturing lead time E) Quality customer time 17) On-time performance is A) the time it takes distribution to pick […]
61. Some assets, such as a nuclear power plant, are not readily salable at the end of their useful lives, and retiring them may impose substantial costs. Which of the following is true? A. Firms recognize a liability, referred to as an asset retirement obligation at the present value of the estimated dismantling costs. B. Firms recognize a liability, referred to as an asset retirement obligation […]
A fallacy is an error in reasoning. An argument commits a fallacy when the reasons we offer do not support our conclusion. Understanding and being able to identify fallacies assists us in spotting fallacy arguments and keeps us from being easily mislead or deceived. The following video presents eight distinct fallacies:
Video link:
http://www.youtube.com/watch?v=fXLTQi7vVsI
Prompt
Present a 600 word essay describing a specific fallacy from the video and presenting at least two strategies for avoiding this fallacy. Define and describe the fallacy. For example, if you select the post hoc, you want to define the post hoc and discuss what occurs in the post hoc. Describe the error that is committed in the fallacy. In other words, what's wrong with the argument? Identify two strategies that will help you in avoiding this fallacy. You can choose strategies presented in the class or create your own strategies that you think will help you in avoiding this type of fallacy.
-APA format
-A title page
-One-inch margins
-12-point font, double-spaced
-500 Words
-A reference page
-Include sources, and be sure to cite them in the body of the paper and include them on the reference page.
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