A ___________ is a decrease in net assets from an event incidental to the company's business.
a. gain
b. loss
c. asset
d. liability
e. stockholder's equity
Answer: b. loss
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Cardoza Construction Materials Company has a sales office that sells concrete culvert pipes to property developers
The sales office is a revenue center and prepares a monthly responsibility report. The following information is provided. Revenue Center Responsibility Report Product Type Actual Sales Revenue Flexible Budget Variance U/F Flexible Budget Sales Volume Variance U/F Static Budget 40 inch $31,500 $30,750 $40,600 36 inch long 40,150 42,100 33,000 36 inch short 36,100 33,200 31,000 32 inch 19,100 20,300 28,450 What is the sales volume variance for the 36-inch long pipe? A) $1,950 U B) $9,100 F C) $9,850 U D) $750 F
The sport product is unique because it is perishable.
a. true b. false