Which of the following manufacturers would most likely use job-order costing?
A. Microchip processors.
B. Fertilizer manufacturers.
C. Custom-furniture manufacturers.
D. Gasoline refiners.
E. Chemical manufacturers.
Answer: C
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"The amounts obtained for cost of goods sold and ending merchandise inventory are always the same for FIFO perpetual and FIFO periodic." Is this statement TRUE? Why or why not?
What will be an ideal response?
The true value found, if a census were taken of the population, is known as the:
A) population hypothesis B) population finding C) population statistic D) sample statistic E) population fact
One rationale for using expected dividends in valuation is
a. Dividends are a necessary payment in order for a firm to have value. b. Dividends are paid in cash, and cash serves as a measurable common denominator for comparing the future benefits of alternative investment opportunities. c. Dividends are the most reliable measure of value because most companies payout dividends to shareholders. d. Dividend payout ratios are set based on profitability.
A batch process is used to produce products in ______.
A. large variety in moderate volumes B. moderate variety in large volumes C. moderate variety in moderate volumes D. large variety in large volumes