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The difference between a profit center and an investment center is
an investment center provides services to profit centers.
an investment center incurs costs, but does not directly generate revenues.
an investment center is responsible for investments made in operating assets. an investment center incurs no costs but does generate revenues.
There is no difference; investment center and profit center are synonymous.
PROBLEM 4-5. Break-Even, “What If” [LO 3] Michael Bordellet is the owner/pilot of Bordellet Air Service. The company flies a daily round trip from Seattle's Lake Union to a resort in Canada. How many round trips are needed so that Michael can draw a ..
Sales and cash collections from customers for the year were $780,000 and $700,000, respectively. Cost of goods sold for the year was $450,000. What was Alliance's receivables turnover ratio (rounded) for 2011?
What the underlying fundamental concept is that governs what expenses should be capitalized and what should be expensed.
multiple choice questions in accounts fundamentals1.the matching rule relates to credit losses by stating that bad debt
Prepare the journal entry to record the trade-in assuming a trade-in allowance of $1,200 with the balance paid in cash.
Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $440,000. Shipping costs totaled $30,000. Foundation work to house the centrifuge cost $8,600. An additional water line had to be run to the equipment at a cost of $3,000.
Suggest how Tyson Furniture might allocate its $100,000 cash among these four opportunities. - Discuss the trade-offs that management must consider.
To finance construction of the building, a $600,000 10% construction loan was taken out on February 1. The loan was repaid on November 1. The firm had $200,000 of other outstanding debt during the year at a borrowing rate of 7%.
on july- 1 2010 linux corporation a wholesaler of electronics equipment issued 45000000 of 10-year 10 bonds at an
Whiteside Corporation issues $603,000 of 9% bonds, due in 12 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the issue price of the bonds
a single basis (or activity base) should be used for all costs.GAAP requires the use of industry-mandated standardized activity bases.
Draw the diagram that shows how the job cost system works with purchases, sales, and payroll and what is the description of the Franklin Botanical Gardens job?
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