To understand semantics, you should know the difference between words that connote and words that denote

Graham Corporation's budgeted production schedule, by quarters, for the coming year is as follows:Quarter 1 = 22,500 unitsQuarter 2 = 19,000 unitsQuarter 3 = 17,000 unitsQuarter 4 = 24,000 unitsEach unit of product requires three pounds of direct material. The company's policy is to begin each quarter with 30% of that quarter's direct materials production requirements.Graham expects to have 50,000 pounds of direct materials on hand at the beginning of Quarter 1.What would be Graham's budgeted direct materials purchases (in pounds) for the first quarter?

What will be an ideal response?

Giant Co. acquired Posey, Inc., in a 100% acquisition on January 1, Year 1. Posey continued to exist and operate as a separate entity. Depreciation expense on a consolidated basis for Year 1 will be:

a. Giant's depreciation expense based on Giant's fair values plus Posey's depreciation expense plus the depreciation expense on the fair value and book value difference at the date of acquisition. b. Giant's depreciation expense based on Giant's book values plus Posey's depreciation expense plus the depreciation expense on the fair value and book value difference at the date of acquisition. c. Giant's depreciation expense based on Giant's book values plus Posey's depreciation expense. d. Giant's depreciation expense based on Giant's fair values plus Posey's depreciation expense