Which one of the following types of costs is excluded from the cost of inventory that is routinely manufactured?
A) interest
B) raw materials
C) normal spoilage
D) insurance
A
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If First National Bank were to assign one of its bank tellers to business merchants and two others to individual accounts, it would be departmentalizing on the basis of
A. location. B. population. C. customer. D. function. E. service.
Which of the following costs is classified as both a prime cost and a conversion cost?
A. Variable overhead. B. Direct materials. C. Fixed overhead. D. Direct labor.
The Ritz Carlton has Service Values which guide employees in providing its Gold Standard service. One of the service values states "I own and immediately resolve guest problems." The Ritz Carlton management uses _____ to provide customer service.
A. training B. deregulation C. empowerment D. commissioning E. mediating
On May 1, 1997, two months after becoming insolvent, Quick Corp, an appliance wholesaler, filed a voluntary petition for bankruptcy under the provisions of Chapter 7 of the federal Bankruptcy Code. On October 15, 1996, Quick's board of directors had authorized and paid Erly $50,000 to repay Erly's April 1, 1996, loan to the corporation. Erly is a sibling of Quick's president. On March 15, 1996,
Quick paid Kray $100,000 for inventory delivered that day. Which of the following is not relevant in determining whether the repayment of Erly's loan is a voidable preferential transfer? a. That Erly is an insider. b. That Quick's payment to Erly was made on account of an antecedent debt. c. Quick's solvency when the loan was made by Erly. d. That Quick's payment to Erly was made within one year of the filing of the bankruptcy petition.