Some costs that possibly could be traced directly to cost objects are nonetheless classified as indirect costs because:
A. Generally accepted accounting principles require some costs to be treated as indirect.
B. Such practice results in a more accurate accumulated cost for the object.
C. Such costs cannot be traced to objects in a cost-effective manner.
D. All of the answers are correct.
Answer: C
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The difference between actual quantity used and standard quantity multiplied by standard price is the equation for computing the
a. direct labor efficiency variance. b. direct materials price variance. c. direct labor rate variance. d. direct materials quantity variance.
Which of the following is/are not true?
a. An employer must recognize changes in the funded status of a defined benefit retirement plan on its balance sheet each period. b. U.S. GAAP and IFRS do not require the employer to recognize changes in the funded status of a defined benefit retirement plan immediately in net income. c. Changes in the net funded status of a defined benefit retirement plan because investment performance differs from expectations, or because of changes in actuarial assumptions, or in the retirement benefit formula, initially affect net income. d. Firms amortize the amounts in Other Comprehensive Income over the expected period of benefit as an adjustment to retirement plan cost. e. all of the above
People with a high need for affiliation ______.
Fill in the blank(s) with the appropriate word(s).
NASDAQ is the largest stock exchange in the world
a. True b. False Indicate whether the statement is true or false