which of the following statements is true for a company that maintains beginning and ending work in process and finished goods inventories? multiple choice if the company closes its underapplied overhead entirely to cost of goods sold it will cause net operating income to be lower than the net operating income reported if the company had closed its underapplied overhead proportionally to work in process, finished goods, and cost of goods sold. if the company closes its underapplied overhead entirely to cost of goods sold it will cause net operating income to be higher than the net operating income reported if the company had closed its underapplied overhead proportionally to work in process, finished goods, and cost of goods sold. if the company closes its underapplied overhead entirely to cost of goods sold it will cause net operating income to be the same as the net operating income reported if the company had closed its underapplied overhead proportionally to work in process, finished goods, and cost of goods sold. if the company closes its underapplied overhead entirely to cost of goods sold it will cause the gross margin to be higher than the gross margin reported if the company had closed its underapplied overhead proportionally to work in process, finished goods, and cost of goods sold.

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Answer 1

if the company closes its underapplied overhead entirely to cost of goods sold it will cause net operating income to be higher than the net operating income reported if the company had closed its underapplied overhead proportionally to work in process, finished goods, and cost of goods sold.



When a company closes its underapplied overhead entirely to cost of goods sold, it reduces the cost of goods sold and thus increases the net operating income as compared to when the overhead was closed proportionally to work in process, FINISHED GOODS INVENTORIES, and cost of goods sold.

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to protect the competitive economic system by restricting the formation of monopolies, the government has passed and enforced rationing systems. antitrust laws. the imposition of taxes on certain goods. zoning laws.

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To protect the competitive economic system by restricting the formation of monopolies, the government has passed and enforced b: antitrust laws.

Antitrust laws are regulations that aim to promote fair competition and prevent the formation of monopolies or cartels that can control the market and limit competition. These laws are designed to ensure that businesses compete fairly and that consumers have access to a variety of goods and services at competitive prices.

The government enforces antitrust laws by investigating and prosecuting violations, such as price-fixing, market allocation, and other anti-competitive practices that harm consumers and stifle competition.

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In which of the following countries will the national government have the greatest influence with respect to the nation's economy?A. ChinaB. CubaC. CanadaD. Chile

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Among the given options, the country where the national government will have the greatest influence with respect to the nation's economy is Cuba.

Option A: China

China is a socialist market economy country, which means that the government plays a significant role in the nation's economy. The government of China has a great influence over economic planning, resource allocation, and market regulations. Thus, the national government will have the greatest influence with respect to the nation's economy in China.

Option B: Cuba

Cuba has a centrally planned economy, which means that the government controls all aspects of the nation's economy. The government controls everything from production to distribution and pricing, so it has the greatest influence over the economy.

Option C: Canada

Canada is a developed country with a mixed-market economy. The government of Canada plays a significant role in the nation's economy by providing public goods and services, ensuring fair competition, and regulating industries. However, the private sector is also an important part of the economy, and the government does not have complete control over it.

Option D: Chile

Chile is a market-oriented economy with a high level of economic freedom. The government has implemented various market-friendly policies and trade agreements to promote growth and development. The government regulates some industries and provides public goods and services, but it does not have complete control over the economy. Thus, the national government will have the least influence with respect to the nation's economy in Chile.

Therefore, the correct option is B. Cuba.

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