Without a tax increase there will soon be runaway inflation. But Congress refuses to raise taxes. Thus, before long there will be runaway inflation. That means that you should borrow all the money you can right now.

1. Without a tax increase there will soon be runaway inflation
2. Congress refuses to raise taxes
3. Thus, before long there will be runaway inflation (1,2)
4. You should borrow all the money you can right now. (3)

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above