Provide a definition for each of the following accounting principles.
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Commodity IT assets easily acquired in the marketplace and should be outsourced under the core competency theory
Indicate whether the statement is true or false
Explain the accounting for marketable securities
Price matching is one of the ways to counter a competitor's prices
Indicate whether the statement is true or false a. True b. False
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76,000; direct labor, $24,000; and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is:
A. $13,000. B. $165,000. C. $110,000. D. $56,000. E. $59,000.