On August 1, a $45,600, 7%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest be paid each year on July 31. The present value of an annuity factor for 3 years at 7% is 2.6243. The payment each July 31 will be:. a. $15,200.00.
b. $17,376.06.
c. $16,000.00.
d. $15,600.00.
e. $2,176.06.

(a) what do you think will happen if the price of non-gm crops continues to rise? why? (b) what will happen if the price of non-gm food drops? why?

Which one of the following statements is correct? process costing systems use periodic inventory systems. process costing systems assign costs to departments or processes for a time period. companies that produce many different products or services are more likely to use process costing systems. production is continuous when a job-order costing is used to ensure that adequate quantities are on hand.

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?