On May 1,2016,Fitz Installed a $475,000 Sound System for International

question 71

Multiple Choice

On May 1,2016,Fitz installed a $475,000 sound system for International Arena.Fitz agreed to accept a $500,000 six-month,noninterest bearing note due on December 1,2016.Fitz prepares financial statements at the end of every calendar year.Fitz's journal entry to record the collection of the note plus accrued interest on December 1,2016,will include a ________.

• A)credit Interest Revenue for $475,000
• B)debit Interest Revenue for $25,000
• C)credit Note Receivable for $500,000
• D)credit Note Receivable for $475,000

Understand the distinction between formative and summative evaluations in the context of training programs.

Acknowledge the relevance of specific versus general behaviors in training evaluations.

Understand the complexity and necessity of causal evaluations in training programs.

Explore the reasons behind the limited use of sophisticated training evaluations by organizations.

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Definitions:

Overhead Efficiency

A measurement of how effectively a company uses its overhead costs in generating revenue.

Fixed Overhead Budget

A plan for the fixed costs involved in operating a business, which do not vary with levels of production or sales.

Standard Machine-Hours

The predetermined amount of time that machines are expected to operate to produce a set quantity of goods.

Variable Overhead Rate

Variable overhead rate is the ratio of variable overhead costs incurred for every unit of activity or a specific measure of activity, such as labor hours.