Teaching, waiting tables, and cutting hair belong in which category?

A. Production
B. Services
C. Goods
D. Productivity


Answer: B

Business

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When evaluating identified misstatements, the auditor only needs to consider misstatements in the current year, and not misstatements from the prior year

a. True b. False Indicate whether the statement is true or false

Business

Weaknesses of the high-low method include all of the following except

a. only two observations are used to develop the cost function. b. the high and low activity levels may not be representative. c. the method does not detect if the cost behavior is nonlinear. d. the mathematical calculations are relatively complex.

Business

A "moment of truth" can be described as a situation where the customer's expectations were met

Indicate whether the statement is true or false

Business

Relative to traditional product costing, activity based costing differs in the way costs are:

a. allocated. b. incurred. c. processed. d. benchmarked.

Business