A product that becomes part of a buyer's final product and comes finished and ready for assembly is called
A. accessory equipment.
B. a component material.
C. a raw material.
D. an installation.
E. a component part.
Answer: E
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When transportation costs are included in a trade model
a. an exporting country's gains from trade decrease. b. an exporting country's gains from trade increase. c. an exporting country's volume of trade increases. d. an exporting country's terms of trade can improve.
Generally, the lower the number of days' sales in inventory, the better
Indicate whether the statement is true or false
The cost of materials entering directly into the manufacturing process is classified as:
A) direct labor cost B) factory overhead cost C) burden cost D) direct materials cost
Hernandez Carpets Company buys a building for $115,000, paying $30,000 cash and signing a 30-year mortgage note for $85,000 at 11%. Prepare the journal entry for the purchase
What will be an ideal response