The assumption that in the absence of contrary information a business entity will continue indefinitely is the:

(A) Periodicity assumption. (B) Historical cost assumption. (C) Entity assumption. (D) Going concern assumption.

Which accounting assumption assumes that all accounting information can be reported monthly or yearly?

James owns a home in Lake Tahoe, Nevada, that he rented for $1,600 for two weeks during the summer. He lived there for a total of 120 days, and the rest of the year the house was vacant.

The Fed's control of the money supply is not precise because a. Congress can also make changes to the money supply. b. there are not always government bonds available for purchase when the Fed wants to perform open-market operations. c.

A person who is in the business of selling cars is called a: a. lender. b. salesperson. c. dealer. d. mechanic.

EA13. LO 4.7Job 113 was completed at a cost of $5,000, and Job 85 was completed at a cost of $3,000 and sold on account for $4,500. Prepare journal entries for the following: Completion of Job 113. Completion and sale of Job 85.

The Collins Company forecasts that total overhead for the current year will be $12,000,000 and that total machine hours will be 200,000 hours. Year to date, the actual overhead is $8,000,000 and the actual machine hours are 100,000 hours.

A bond has a $1,000 par value, 11 years to maturity, and pays a coupon of 4.75% per year, semiannually. The bond can be called in five years at $1,050. If the bond's price is $797.92, what is its annual yield to maturity

This inventory system requires a physical inventory count to be made at least once during the year. Answer 1 This inventory system computes and records cost of goods sold at the time of sale.

A salesperson receives a weekly salary of $500. In addition, $5 is paid for every item sold in excess of 200 items. How much extra is received from the sale of 215 items?

The Market Outlet has a beta of 1.38 and a cost of equity of 14.945 percent. The risk-free rate of return is 4.25 percent. What discount rate should the firm assign to a new project that has a beta of 1.25?