The inventory account a manufacturer uses to record the cost of products completed and available for sale is called
a. Raw materials inventory
b. Merchandise inventory
c. Finished goods inventory
d. Work in process inventory
c
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The accounting entry for work done to equipment that does not increase the usefulness of equipment includes
a. debiting Repair Expense and crediting Equipment; b. debiting Cash and crediting Equipment; c. debiting Equipment and crediting Cash or a liability account; d. debiting Repair Expense and crediting Cash or a liability account; e. debiting Equipment and crediting Purchases.
Practicing law without a license is a_________
Fill in the blank(s) with correct word
In ______, a mathematical model of a waiting line system is constructed so that the length of the queues and their associated waiting times can be predicted.
A. queueing theory B. waiting line theory C. queue analysis D. game theory
When using the graphic approach to break-even analysis, the entrepreneur must plot total _____ and total
a. revenue; costs b. expenses; revenue c. costs; income d. income; expenses