A chair manufacturer makes custom chairs using hand tools, wood, glue, and varnish. Which of the following statements is true?
A. Wood would be accounted for as a direct cost, and glue and varnish as indirect costs.
B. The concepts of direct and indirect costs are not applicable here.
C. The costs of wood and glue would be treated as direct costs.
D. Wood, glue, and varnish would all be direct materials.
Answer: A
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Adophus, Inc's 2010 income statement reported total revenues of $850,000 and total expenses (including $40,000 depreciation) of $720,000 . The 2010 balance sheet reported the following: accounts receivable beginning balance of $50,000 and ending balance of $40,000; accounts payable beginning balance of $22,000 and ending balance of $28,000 . Therefore, based only on this information and using the
indirect method, the 2010 net cash inflow from operating activities was a. $126,000 b. $186,000 c. $166,000 d. $174,000
Which of the following refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographical area?
a. purchasing power b. balance of trade c. standard of living d. exchange rate
Which one of the following statements about retailers and retailing activities is true?
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Which of the following statements regarding behavioral research is true?
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