The cost of abnormal continuous losses is
a. considered a product cost.
b. absorbed by all units in ending inventory and transferred out on an equivalent unit basis.
c. written off as a loss on an equivalent unit basis.
d. absorbed by all units past the inspection point.
C
You might also like to view...
Of a company's employees, 75 percent typically qualify to receive two weeks' paid vacation out of 50 working weeks per year. The entry to record the amount of estimated liability for vacation pay for a week in which the total payroll is $9,600 :
a. Estimated Liability for Vacation Pay 144 Cash 144 b. Vacation Pay Expense 288 Estimated Liability for Vacation Pay 288 c. Vacation Pay Expense 7,200 Cash 7,200 d. Cash 256 Estimated Liability for Vacation Pay 256
A short-term note payable:
A. Is not a liability until the due date. B. Is a written promise to pay a specified amount on a definite future date within one year or the company's operating cycle, whichever is longer. C. Is an estimated liability. D. Is a contingent liability. E. Cannot be used to extend the payment period for an account payable.
A "single premium annuity" is another term for an "immediate annuity."
Indicate whether the statement is true or false
The economic digital divide in the United States has been growing since the turn of the millennium.
Answer the following statement true (T) or false (F)