Suppose that you enter a drawing by obtaining one of 20 tickets that have been distributed. By using the classical method, you can determine that the probability of your winning the drawing is 0.05
Indicate whether the statement is true or false
TRUE
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What will be an ideal response?
FOB shipping point means that the seller incurs the shipping costs
Indicate whether the statement is true or false
Peterson Inc uses direct labor hours as the cost driver for variable overhead. Which of the following items does not need to be known, in order to calculate the variable overhead spending variance?
A) Actual overhead costs B) Actual direct labor hours C) Standard variable overhead rate per direct labor hour D) Standard direct labor hours allowed
An unconditional order drawn by the seller on the buyer instructing the buyer to pay the amount of the order on presentation is
A. a time draft. B. a sight draft. C. a consignment. D. an unconditional letter of credit.