Posted: August 28th, 2016

A staff department has no direct authority over a line department.

job order costing system is used by service firms to determine revenues, expenses, and ultimately profit.
a. True
b. False
A company that has 25,000 shares of $5.00 par value common stock issued and outstanding paid a dividend of $.75 per share. The market value of the stock is $20.00 per share. The company’s dividend yield is:
a. 400%
b. 25%
c. 3.75%
d. 15%
Cash outflows from financing activities include the payment of cash dividends, the acquisition of treasury stock, and the repayment of amounts borrowed.
a. True
b. False
When a job is completed in a service organization, the job costs are transferred to the
a. finished goods account.
b. work in process account.
c. cost of goods sold account.
d. cost of services account
The vice presidents of production and sales and the controller hold line positions in most large organizations.
a. True
b. False
A staff department has no direct authority over a line department.
a. True
b. False