Guaranteed wages and salary increases based on the amount of time the employee has spent with the organization are called ______.

A) skill-based pay
B) job content-based pay
C) performance-based pay
D) seniority-based pay

The late majority tends to adopt products during the _______ stage of the product life cycle.

A) maturity
B) decline
C) introduction
D) growth
E) production

Which statement is false?

A) About seven percent of federal government spending goes toward interest on the national debt.
B) Over eighty percent of local taxes comes from property taxes.
C) The federal government will spend over $3.8 trillion this fiscal year.
D) None of these statements is false.

Determine the amount of cash collected on a credit sale in the amount of $5,000, subject to a 5% sales tax when $500 worth of merchandise has already been returned for credit. Assume cash is collected after the discount period.
$ ________

Which of the following would least likely be considered a managerial accounting report?

A) a report to analyze potential efficiencies and savings for the purchase of new production equipment
B) a schedule of total manufacturing costs incurred
C) a statement of cost of goods manufactured
D) a statement of stockholders' equity

Statement I: The highest marginal federal personal income tax rate is 30 percent.
Statement II: The marginal tax rate is found by dividing additional taxes paid by additional taxable income.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.