Select the incorrect statement from the following.
A. Actual costs are not relevant in many decisions because actual costs cannot be determined until after the decision has been made.
B. The difference between a direct cost and an indirect cost is that a direct cost relates to a given cost object while an indirect cost does not.
C. When accumulating the cost of a specific cost object, the indirect costs are allocated to the cost object.
D. Actual costs are useful for evaluating managerial performance.
Answer: B
You might also like to view...
The owners of Tyrell's Tattoo Shop are interested in determining the nature of the relationship between their clients' professional occupation and the number of tattoos that individuals have. In this case, which research will result in the most appropriate way to explain the nature of this relationship?
A. random B. longitudinal C. descriptive D. clinical E. exploratory
The goal of this scheme was to create a uniform system of commercial law among all 50 states:
A) Model Commercial Code. B) Uniform Commercial Code. C) Uniform Contract Code. D) Model Contract Code.
The ________ is a process that evaluates a candidate's potential for management on the basis of multiple assessment techniques, standardized methods of making inferences from such techniques, and pooled judgments from multiple assessors.
A. emotional intelligence test B. in-basket test C. validity generalization method D. assessment-center method
The FIFO inventory method assumes that costs for the latest units purchased are the first to be charged to the cost of goods sold.
Answer the following statement true (T) or false (F)