________ is considered while choosing a cost allocation base for activity costs in ABC costing.

A) The marketing strategy of the products being produced
B) The product sales price
C) The availability of reliable data and metrics
D) The number of employees in direct labor
E) The number of departments

Proponents of personalistic ethics argue that

A) the best way to achieve the greatest good is to closely follow a set of rules and principles.
B) the worth of a particular action is judged on the basis of the consequences it produces.
C) societies,organizations and cultures determine what is ethically appropriate and acceptable within that group.
D) everyone ought to decide for themselves what is right based on their conscience.
E) Rule utilitarians argue all of the above

On January 1 Hamm Company purchased as an investment a $1000 6% bond for $1050. The bond pays interest on January 1. What is the entry to record the interest accrual on December 31? a.
$\begin{array}{llr}\text{ Interest Receivable }& 60& \\ \text{ Interest Revenue }& & 60\end{array}$

b.
$\begin{array}{llr}\text{Debt Investments }& 60& \\ \text{ Interest Revenue }& & 60\end{array}$

c.
$\begin{array}{llr}\text{ Interest Receivable}& 63& \\ \text{ Interest Revenue}& & 63\end{array}$

d.
$\begin{array}{llr}\text{ Debt Investments }& 63& \\ \text{ Interest Revenue }& & 63\end{array}$

The lower the consumer's income,the higher his or her budget line.

If the real gross domestic product (GDP) for the base year is $3 trillion,then the nominal gross domestic product (GDP) for that year is _____.

A) −$.03 trillion
B) $0.3 trillion
C) $3 trillion
D) $30 trillion
E) $300 trillion

On December 1 the accounts receivable control account balance in the general ledger of the Picard Company was $9500. The accounts receivable subsidiary ledger contained the following detailed customer balances: Selig $2000 Jobs $2400 Taylor $2600 and Burton $2500. The following information is available from the company's special journals for the month of December:
Cash Receipts Journal: Cash received from Taylor $2600 from Selig $1300 from Munoz $1700 and from Jobs $1800.
Sales Journal: Sales to Minoz $3400 to Taylor $1800 to Selig $3100 and to Burton $1900.
Additionally Taylor returned defective merchandise for credit for $680. Selig returned defective merchandise for $600 which he had purchased for cash.
Instructions
(a) Using T-accounts for Accounts Receivable Control and the detail customer accounts post the activity for the month of December.
(b) Reconcile the accounts receivable control account with the subsidiary ledger by preparing a detail list of customer balances at December 31.