What are the main differences between major equipment and accessory equipment?
What will be an ideal response?
ANSWER: Major equipment includes capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings. Major equipment is depreciated over time rather than charged as an expense in the year it is purchased. In addition, major equipment is often custom designed for each customer.Accessory equipment is generally less expensive and shorter-lived than major equipment. Examples include portable drills, microcomputers, and computer software. Accessory equipment is often charged as an expense in the year it is bought rather than depreciated over its useful life. In contrast to major equipment, accessories are more often standardized and are usually bought by more customers.
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McDonald's operates in over 118 countries; however, 80% of its restaurants are located in nine countries which does not include the following country market:
A) Australia. B) Brazil. C) Germany. D) India. E) Japan.
Who pioneered industrial psychology and is considered the First Lady of Management?
a. Emily Fayol b. Mary Parker Follett c. Emily Mayo d. Lillian Gilbreth
Revenues are reported when
A) a contract is signed B) cash is received from the customer C) work is begun on the job D) work is completed on the job
Which of the following types of costs are easily tracked or traced and assigned to a specific job in a job order costing system?
A) Factory utilities B) Factory supervisor C) Factory assembly-line worker D) Lubricants used on factory machinery