The perishability of services prevents the storage and shifting of services from low to high demand periods
Indicate whether the statement is true or false
True
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Economies of scale occur when ______.
A. production is greater than demand B. not enough is demanded at a given price C. the cost per unit of output decreases as the volume of output increases D. the total cost declines as the volume of output increases
Which of the following is not a product cost under variable costing?
A. Direct materials. B. Fixed manufacturing overhead. C. Direct labor. D. All variable manufacturing costs. E. Variable manufacturing overhead.
Jervis sells $3100 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 2% factoring fee. What entry should Jervis make to record the transaction?
A. Debit Accounts Receivable $3038; debit Factoring Fee Expense $62; credit Cash $3100. B. Debit Cash $3038; debit Factoring Fee Expense $62; credit Accounts Receivable $3100 C. Debit Accounts Receivable $3100; credit Factoring Fee Expense $62; credit Cash $3038 D. Debit Cash $3038; credit Accounts Receivable $3038 E. Debit Cash $3100; credit Factoring Fee Expense $62; credit Accounts Receivable $3100
Which of the following is one of the biggest problems in Russia and in other transition economies?
A. Social democracy B. Nationalization C. Corruption D. Privatization