Cayo casta cabins corporation recently purchased ship island resort and casino and the land on which it is located with the plan to tear down the resort and build a new luxury hotel on the site. cayo casta cabin corporation salvaged fixtures and wood flooring from ship island prior to demolishing the building. the proceeds from the sale of the salvaged materials should be

1. recorded as a reduction of the cost of the new hotel.
2. recognized as revenue in the period of the sale.
3. recognized as an extraordinary gain in the year the hotel is torn down.
4. recorded as a reduction of the cost of the land.

Which of the following is false regarding the links between jit and quality? a. jit increases the cost of obtaining good quality. b. as quality improves, fewer inventory buffers are needed; in turn, jit performs better. c. jit reduces the number of potential sources of error by shrinking queues and lead times. d. inventory hides bad quality; jit immediately exposes it. e. if consistent quality exists, jit allows firms to reduce all costs associated with inventory.

Tina is applying for the position of a daycare assistant at a local childcare center. which document should tina send with a résumé to her potential employer? a. educational certificate b. work experience certificate c. cover letter d. follow-up letter

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.