Which of the following is a salutopening?
A) Dear Professor Milford:
B) Dear Esteemed Professor Milford,It has come to our attention that you are interested in joining our research team in Winslow, Arizona. We think you can be a good fit!
C) Attention: Professor J. J. Milford Thank you, Professor Milford, for your prompt response.
D) Attention: Professor J. J. Milford
Answer: C
Explanation: C) A "salutopening" combines a salutation with an opening. The first line of the salutopening addresses the recipient directly, omitting "Dear". This is followed by a second line that briefly begins the body of the letter.
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How much money can be saved annually by setting up a lock-box system that will process 500 cheques per day at a cost of $0.20 per cheque if each cheque averages $220, collection float is reduced by three days, and the annual interest rate is 8 percent?
A) $10,000 B) ($10,100) C) $16,400 D) ($27,700)
The predetermined overhead allocation rate is an estimated overhead cost per unit of the allocation base and is calculated at the beginning of the accounting period
Indicate whether the statement is true or false