Answer the following statements true (T) or false (F)
1. The information from a cost accounting system allows managers to make decisions about planning and directing, but not about controlling.
2. Cost accounting systems are primarily concerned with accumulating product cost information.
3. When direct materials are received on the production floor, they are recorded on the job cost record.
4. When raw materials are requisitioned for a job, the Raw Materials Inventory account is debited.
5. Manufacturing Overhead is a temporary account used to accumulate indirect production costs during the accounting period.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
5. TRUE
You might also like to view...
Answer the following statements true (T) or false (F)
1. Jobs that requires face-to-face or physical contact, or those that require recognition of complex patterns, are unlikely to be offshored. 2. As of 2011, the United States was the world's top exporter. 3. Countertrading refers to a company producing goods domestically and selling them outside the country. 4. If a country's currency drops dramatically and it is unable to import the goods it needs, then an exporter who trades with that country may turn to countertrading.
) City Petroleum Products owns furniture that was purchased for $20,000. Accumulated depreciation is $16,000. The furniture was sold for $3,800. Prepare the journal entry to record this transaction. Omit explanation.
What will be an ideal response?
A person’s race, ethnicity, or country of origin is referred to as ______ background.
a. cultural b. ethnic c. religious d. racial
In the context of the promotion mix elements, which of the following represents a strength specific to social media marketing?
A. ability to stimulate purchase directly through incentive to buy B. message customization without high costs of personal selling C. many provider choices D. great creative flexibility E. unpaid communication seen as more credible than paid forms