Process accounting can be appropriate for
A) service firms.
B) manufacturing firms with JIT orientation.
C) traditional manufacturing firms.
D) all of these.
D
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_____, the time during which ISs or data are not available in the course of conducting business, has become a dreaded situation for almost every business worldwide.
Fill in the blank(s) with the appropriate word(s).
Which of the following criteria would require a lessee to classify a lease of land as a capital lease? 1. Transfer of ownership 2. Contains a bargain purchase option 3. Lease term is 75% of economic life 4. Present value of lease payments is 90% of fair value ? ?
A) any of the criteria B) criterion 1 or 2 C) criterion 1, 2, or 3 D) criterion 1, 2, or 4
Parron Company sets price equal to cost plus 60%. Recently, Parron charged a customer a price of $42 for an item. What was the cost of the item to Parron?
A) $26.25 B) $42 C) $25.20 D) $67.20 E) $40.32
In process costing, factory rent and utilities are debited to the ________
A) Work-in-Process Inventory account B) Manufacturing Overhead account C) Finished Goods Inventory account D) Cost of Goods Sold account