Which of the following is not a product cost?
a. Depreciation of office furniture
b. Overhead
c. Direct labor
d. Direct materials
A
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Gary, Peter, and Chris own a firm as partners. Gary has a capital balance of $22,000; Peter a capital balance of $42,000; and Chris has a capital balance of $32,000. As per the partnership agreement, Gary gets a profit share of 2/9; Peter has 4/9; and Chris has 3/9. Which of the following is TRUE, if Gary withdraws from the partnership by receiving $22,000?
A) Peter, Capital and Chris, Capital will be credited for $11,000 each. B) Gary, Capital will be debited for $22,000. C) Cash is debited for $22,000. D) Peter, Capital will be credited for $22,000.
Customer concentration can be an important consideration in the quality of receivables
Indicate whether the statement is true or false
In order to have a successful MPR event, it is important that firms closely align the topic of an event with the ________ of the firm
A) connectors B) structure C) importance D) perception E) demographics
Other things held constant, which of the following would tend to reduce the cash conversion cycle?
A. Carry a constant amount of receivables as sales decline. B. Place larger orders for raw materials to take advantage of price breaks. C. Take all discounts that are offered. D. Continue to take all discounts that are offered and pay on the net date. E. Offer longer payment terms to customers.