Specific, concrete words are easier to understand and remember.
a. true
b. false
Ans: a. true
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When goods are shipped FOB shipping point, the buyer has economic control of the inventory and must record the goods in its inventory accounts as soon as the goods are shipped
Indicate whether the statement is true or false
Lambda assumes that the variables are measured on an ordinal scale
Indicate whether the statement is true or false
"The difference between actual hours worked and standard hours allowed for the good units produced, multiplied by the standard labor rate" is a description of the
A) direct labor rate variance. B) direct labor efficiency variance. C) total direct labor cost variance. D) direct labor quantity variance.
Which of the following situations would cause the margin of safety to be negative
a. The fixed cost are less than the contribution margin. b. Operating leverage is less than 100. c. Sales volume is less than the break-even point. d. The variable costs exceed the fixed costs.